WATCH AND LEARN! IESBA WEBINAR HIGHLIGHTing KEY PROPOSED REVISIONS TO THE Non-Assurance Services Provisions of the Code
Mar 24, 2020 | Videos
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.
Copyright © 2021 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.
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.