Proposed Technology-related Revisions to the Code

IESBA
Feb 18, 2022 | Exposure Drafts and Consultation Papers
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Comments due by: Jun 20, 2022

This exposure draft seeks to enhance the Code’s robustness and expand its relevance in an environment being reshaped by rapid technological advancements. The proposed amendments will guide the ethical mindset and behavior of professional accountants in business and in public practice as they deal with changes brought by technology in their work processes and the content of the services they provide.

Among other matters, the proposals:

Draw special attention to the professional competence and confidentiality imperatives of the digital age.
Address the ethical dimension of professional accountants’ reliance on, or use of, the output of technology in carrying out their work.
Further enhance considerations relating to threats from the use of technology as well as considerations relating to complex circumstances in applying the Code’s conceptual framework.
Strengthen and clarify the International Independence Standards (IIS) with respect to technology-related non-assurance services (NAS) firms may provide to their audit clients or technology-related business relationships they may enter into with their audit clients.
Explicitly acknowledge that the IIS that apply to assurance engagements are applicable to assurance engagements on non-financial information, for example, environmental, social, and governance (ESG) disclosures.

Submit a comment letter or complete the online survey by June 20, 2022.

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Presentation on Proposed Technology-related Revisions to the Code (PDF | 1.6 MB)

Submitted Comment Letters

1. Dr Asha Sharma, Moahalal Sukhadia University, Udaipur, Rajsthan, India (India)
March 9, 2022

2. Alvaro Fonseca Vivas (Colombia)
March 23, 2022

3. Financial Reporting Council (UKFRC) (United Kingdom)
May 24, 2022

4. Association of Accounting Technicians (AAT) (United Kingdom)
May 25, 2022

5. Pitcher Partners (PP) (Australia)
May 26, 2022

6. Botswana Institute of Chartered Accountants (BICA) (Botswana)
May 31, 2022

7. Certified Practising Accountant Australia (CPAA) (Canada)
May 31, 2022

8. Irish Auditing and Accounting Supervisory Authority (IAASA) (Ireland)
June 9, 2022

9. Federation of Accounting Professions (TFAC) (Thailand)
June 14, 2022

10. International Organization of Securities Commissions (IOSCO) (Spain)
June 14, 2022

11. IInstituto dos Auditores Independentes do Brasil (Ibracon) (Brazil)
June 15, 2022

12. New Zealand Auditing & Assurance Standard Board (NZAuASB) (New Zealand)
June 15, 2022

13. Accounting Professional & Ethical Standards Board (APESB) (Australia)
June 16, 2022

14. Institute of Chartered Accountants in England and Wales (ICAEW) (United Kingdom)
June 16, 2022

15. Institute of Singapore Chartered Accountants (ISCA) (Singapore)
June 16, 2022

16. Korean Institute of Certified Public Accountants (KICPA) (Korea, Republic of)
June 16, 2022

17. Institute of Certified Public Accountants of Uganda (ICPAU) (Uganda)
June 18, 2022

18. Hong Kong Institute of Certified Public Accountants (HKICPA) (Hong Kong (Special Administrative Region of China))
June 19, 2022

19. Association of Italian Audit Firms (ASSIREVI) (Italy)
June 20, 2022

20. BDO International Limited (BDO) (Belgium)
June 20, 2022

21. Chartered Professional Accountants Canada Public Trust Committee (CPAC) (Canada)
June 20, 2022

22. Committee of European Auditing Oversight Bodies (CEOAB) (France)
June 20, 2022

23. Deloitte Touche Tohmatsu Limited (DTTL) (United States)
June 20, 2022

24. Independent Regulatory Board for Auditors (IRBA) (South Africa)
June 20, 2022

25. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
June 20, 2022

26. Japan Institute of Certified Public Accountants (JICPA) (Japan)
June 20, 2022

27. MNP LLP (MNP) (Canada)
June 20, 2022

28. Malta Institute of Accountants (MIA) (Malta)
June 20, 2022

29. MindBridge (MB) (Canada)
June 20, 2022

30. National Association of State Boards of Accountancy (NASBA) (United States)
June 20, 2022

31. Pricewaterhousecoopers International (PWC) (United Kingdom)
June 20, 2022

32. RSM International (RSM) (United Kingdom)
June 20, 2022

33. Royal Netherlands Institute of Chartered Accountants (NBA) (Netherlands)
June 20, 2022

34. The Institute of Chartered Accountants of India (ICAI) (India)
June 20, 2022

35. The Institute of Chartered Accountants of Nigeria (ICAN) (Nigeria)
June 20, 2022

36. The Institute of Chartered Accountants of Scotland (ICAS) (United Kingdom)
June 20, 2022

37. IFAC Small and Medium Practices Advisory Group (IFAC SMPAG) (United States)
June 21, 2022

38. International Forum of Independent Audit Regulators (IFIAR) (Japan)
June 21, 2022

39. Ernst & Young Global Limited (EY) (United Kingdom)
June 22, 2022

40. Society of Certified Accountants and Auditors of Kosovo (SCAAK) (Kosovo)
June 22, 2022

41. KPMG IFRG Limited (KPMG) (United States)
June 23, 2022

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