Proposed Revisions to the Non-Assurance Services Provisions of the Code
IESBA
| Exposure Drafts and Consultation Papers
English
Comments due by:
Due to the COVID-19 pandemic the comment deadline is extended to June 4
The proposed revisions to the non-assurance services provisions of the code include:
- A prohibition on providing NAS to an audit client that is a public interest entity (PIE) if a self-review threat to independence will be created;
- Further tightening of the circumstances in which materiality may be considered in determining the permissibility of a NAS;
- Strengthened provisions regarding auditor communication with those charged with governance (TCWG), including, for PIEs, a requirement for NAS pre-approval by TCWG; and
- Stricter requirements regarding the provision of some NAS, including certain tax and corporate finance advice.
The NAS ED also includes enhanced guidance to assist firms in evaluating the level of threats to independence when providing NAS to audit clients.
To facilitate stakeholder review of the proposals, comments have been included alongside each paragraph to indicate the derivation of the proposed provisions, i.e., whether they are from particular paragraphs in the extant Code or represent new material. A staff-prepared Comparison Mapping Table supplements this ED to assist respondents in understanding the nature of the proposed revisions to the extant Code.
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Submitted Comment Letters
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United Kingdom Financial Reporting Council (762.08 KB)(United Kingdom)
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United States Government Accountability Office (139.41 KB)(United States of America)
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Japan Institute of Certified Public Accountants (177.17 KB)(Japan)
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Auditor-General of New Zealand (509.71 KB)(New Zealand)
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SRA – Netherlands (182.75 KB)(Netherlands)
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National Board of Accountants & Auditors – Tanzania (465.5 KB)(Tanzania, United Republic of)
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Capital Market Authority in Saudi Arabia (149.56 KB)(Saudi Arabia)
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Committee of European Auditing Oversight Bodies (CEOAB) (167.68 KB)(France)
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National Association of State Boards of Accountancy (NASBA) (265.45 KB)(United States of America)
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Institute of Chartered Accountants in England and Wales (ICAEW) (212.1 KB)(United Kingdom)
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International Forum of Independent Audit Regulators (IFIAR) (1.95 MB)(Japan)
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European Federation of Accountants and Auditors for SMEs (291.93 KB)(Belgium)
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New York State Society of CPAs (173.23 KB)(United States of America)
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US Center for Audit Quality (250.93 KB)(United States of America)
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Grant Thornton International Ltd. (214.72 KB)(United States of America)
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Institute of Chartered Accountants Ghana (1.62 MB)(Ghana)
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Wirtschaftsprüferkammer (265.35 KB)(Germany)
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Japan Audit & Supervisory Board Members Association (96.79 KB)(Japan)
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Nexia International (177.15 KB)(United Kingdom)
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Baker Tilly International (245.65 KB)(United Kingdom)
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Association of the Italian audit firms (247.31 KB)(Italy)
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Institute of Certified Public Accountants of Uganda (109.59 KB)(Uganda)
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The Institute of Internal Auditors (414.76 KB)(United States of America)
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Irish Auditing & Accounting Supervisory Authority (69.61 KB)(Ireland)
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Malaysian Institute of Certified Public Accountants (212.91 KB)(Malaysia)
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South African Institute Of Professional Accountants (491.45 KB)(South Africa)
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The Institute of Chartered Accountants of India (ICAI) (449.02 KB)(India)
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Institute of Certified Public Accountants of Rwanda (1.97 MB)(Rwanda)
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Crowe Global (146.72 KB)(United States of America)
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KPMG IFRG Limited (107.71 KB)(United Kingdom)
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Deloitte Touche Tohmatsu Limited (DTTL) (213.45 KB)(United States of America)
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Malaysia Audit Oversight Board, Securities Commission (562.63 KB)(Malaysia)
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Hong Kong Institute of Certified Public Accountants (333.67 KB)(Hong Kong, Special Administrative Region of China)
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New Zealand Auditing and Assurance Standards Board (272.16 KB)(New Zealand)
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IOSCO (4.14 MB)(Spain)
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Korean Institute of Certified Public Accountants (KICPA) (222.11 KB)(Korea)
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Institute of Chartered Accountants of Scotland (ICAS) (306.44 KB)(United Kingdom)
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Chartered Accountants Australia and New Zealand and the Association of Chartered Certified Accountants (269.49 KB)()
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Accountancy Europe (AE) (94.13 KB)(Belgium)
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FAR- Institute for the Accountancy Profession in Sweden (96 KB)(Sweden)
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Moore Global (181.63 KB)(United Kingdom)
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Malaysian Institute of Accountants (MIA) (212.9 KB)(Malaysia)
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Chartered Accountants Ireland (CAI) (323.56 KB)(Ireland)
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Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (725.6 KB)(Germany)
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Pricewaterhousecoopers International (PWC) (254.66 KB)(United Kingdom)
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BDO International Limited (BDO) (188.73 KB)(United States of America)
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Institute of Chartered Accountants of Bangladesh (445.03 KB)(Bangladesh)
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Botswana Institute of Chartered Accountants (289.23 KB)(Botswana)
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Ernst & Young Global Limited (84.45 KB)(United Kingdom)
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RSM International (323.22 KB)(United Kingdom)