Proposed Revisions Pertaining to Safeguards in the Code—Phase 2 and Related Conforming Amendments

IESBA
Jan 24, 2017 | Exposure Drafts and Consultation Papers
58 Pages
English

Comments due by: Apr 25, 2017

The proposals address safeguards-related provisions in the independence sections of the Code of Ethics for Professional Accountants pertaining to non-assurance services provided to audit and other assurance clients.

The document also explains the rationale for the revisions to the non-assurance services section of the extant Code (Proposed Section 600, Provision of Non-assurance Services to an Audit Client and Section 950, Provision of Non-assurance Services to an Assurance Client); and the proposed conforming amendments arising from the Safeguards project as these relate to the text of Phase 1 of the Structure of the Code project (“Structure project”). Proposed conforming amendments as these relate to the text of Phase 2 of the Structure project are presented in gray text in the January 2017 Exposure Draft: Improving the Structure of the Code of Ethics for Professional Accountants—Phase 2 (Structure ED-2).

 
 

Copyright © 2020 The International Federation of Accountants (IFAC). All rights reserved.

Submitted Comment Letters

1. Crowe Horwath International (CHI)
April 10, 2017

2. European Federation of Accountants and Auditors for SMEs (EFAA)
April 19, 2017

3. Malaysian Institute of Accountants (MIA)  (Malaysia)
April 19, 2017

4. Chartered Accountants Australia and New Zealand (CAANZ)  (Australia)
April 20, 2017

5. Institute of Chartered Accountants in England and Wales (ICAEW)  (United Kingdom)
April 20, 2017

6. Institute of Singapore Chartered Accountants (ISCA)  (Singapore)
April 23, 2017

7. Grant Thornton International Ltd. (GTI)  (United Kingdom)
April 24, 2017

8. Korean Institute of Certified Public Accountants (KICPA)  (Korea, Republic of)
April 24, 2017

9. MNP LLP (MNP)  (Canada)
April 24, 2017

10. New Zealand Auditing and Assurance Standards Board (NZAuASB)  (New Zealand)
April 24, 2017

11. Financial Reporting Council (FRC UK)  (United Kingdom)
April 24, 2017

12. National Association of State Boards of Accountancy (NASBA)  (United States)
April 24, 2017

13. American Institute of Certified Public Accountants (AICPA)  (United States)
April 25, 2017

14. Association of Chartered Certified Accountants (ACCA)  (United Kingdom)
April 25, 2017

15. BDO International Limited (BDO)
April 25, 2017

16. Chartered Professional Accountants of Canada (CPA Canada)  (Canada)
April 25, 2017

17. Deloitte Touche Tohmatsu Limited (DTT)
April 25, 2017

18. Ernst & Young Global Limited (EYG)
April 25, 2017

19. FAR (Institute for the Accountancy Profession in Sweden) (FAR)  (Sweden)
April 25, 2017

20. Foreningen af Statsautoriserede Revisorer (Danish Institute of Accountants)(FSR)  (Denmark)
April 25, 2017

21. Hong Kong Institute of Certified Public Accountants (HKICPA)  (Hong Kong (Special Administrative Region of China))
April 25, 2017

22. IFAC Small and Medium Practices Committee (SMPC)
April 25, 2017

23. Institute of Chartered Accountants of Scotland (ICAS)  (United Kingdom)
April 25, 2017

24. Mexican Institute of Publiic Accountants (IMCP)  (Mexico)
April 25, 2017

25. South African Institute of Chartered Accountants (SAICA)  (South Africa)
April 25, 2017

26. The Institute of Chartered Accountants of Pakistan (ICAP)  (Pakistan)
April 25, 2017

27. United States Government Accountability Office (GAO)  (United States)
April 25, 2017

28. Japanese Institute of Certified Public Accountants (JICPA)  (Japan)
April 25, 2017

29. Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW)  (Germany)
April 25, 2017

30. Independent Regulatory Board for Auditors (IRBA)  (South Africa)
April 25, 2017

31. Wirtschaftsprueferkammer (WPK)  (Germany)
April 25, 2017

32. Association of Accounting Technicians (AAT)  (United Kingdom)
April 27, 2017

33. PricewaterhouseCoopers International Limited (PwC)
April 28, 2017

34. RSM International (RSM)  (United Kingdom)
April 28, 2017

35. Office of the Auditor General of New Zealand (AGNZ)  (New Zealand)
May 2, 2017

36. Compagnie Nationale des Commissaires aux Comptes (CNCC)  (France)
May 3, 2017

37. Accounting Professional & Ethical Standards Board (APESB)  (Australia)
May 4, 2017

38. CPA Australia Ltd (CPA Au)  (Australia)
May 5, 2017

39. Accountancy Europe (AE)  (Belgium)
May 11, 2017

40. Royal Netherlands Institute of Chartered Accountants  (Netherlands)
May 12, 2017

41. International Organization of Securities Commissions (IOSCO)  (Spain)
May 16, 2017

42. KPMG (KPMG)  (United Kingdom)
May 16, 2017

43. The Malaysian Institute of Certified Public Accountants  (Malaysia)
May 22, 2017

44. International Forum for Independent Audit Regulators (IFIAR)  (Japan)
May 30, 2017

45. Instituto dos Auditores Independentes do Brasil (IBRACON)  (Brazil)
June 1, 2017

46. Securities Commission of Malaysia (SCM)  (Malaysia)
June 6, 2017

47. ASSIREVI Italy
June 29, 2017

 

Related Resources

 
 
 

Translations & Permissions

Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.

IP permissions and policies

 

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.