WATCH AND LEARN! IESBA WEBINAR HIGHLIGHTing KEY PROPOSED REVISIONS TO THE Non-Assurance Services Provisions of the Code

IESBA
Mar 24, 2020 | Videos
English

Watch the March 17, 2020 IESBA webinar highlighting key aspects of the Board’s  January 2020 Exposure Draft: Proposed Revisions to the Non-Assurance Services Provisions of the Code.  

The presenter, IESBA Deputy Chair and NAS Task Force Chair, Richard Fleck explained that the proposed revisions to the Code’s non-assurance services (NAS) provisions are intended to strengthen auditor independence, especially for audits of public interest entities (PIEs). He then provided an overview of the proposed revisions, including:

  • A prohibition on providing NAS to an audit client that is a 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.

Comments on the NAS Exposure Draft are due by May 4, 2020.

 
 

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