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).
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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
- 2015 Handbook of the Code of Ethics for Professional Accountants
- Benchmarking International Independence Standards
- IESBA Strategy Survey 2022
- Report on IESBA Accomplishments, 2020 – 2021
- Summary: Benchmarking the International Independence Standards