The 2011-2012 IESBA Strategy and Work Plan, which sets the direction and priorities for the activities of the International Ethics Standards Board for Accountants (IESBA), has been approved by the IESBA, the IESBA Consultative Advisory Group, and the Public Interest Oversight Board.  The IESBA plans to build upon the strong base established by the revised Code of Ethics for Professional Accountants (the IESBA Code) issued in July 2009. The 2011-2012 Strategy and Work Plan is focused on three strategic areas: development of standards; adoption and implementation; and convergence.

The IESBA plans to develop additional guidance for professional accountants on identifying and addressing a conflict of interest, responding to suspected illegal acts, and dealing with a breach of an independence requirement of the IESBA Code. The IESBA will also consider recommendations of an IESBA Working Group tasked with reporting on the unique and challenging issues faced by professional accountants in small- and medium-sized entities and small- and medium-sized practices in complying with the IESBA Code.

“The 2011-2012 Strategy and Work Plan reflects the IESBA’s commitment to serve the public interest by setting high-quality ethical standards for professional accountants,” said Ken Dakdduk, IESBA Chair. “This commitment is also demonstrated by facilitating the convergence of international and national ethical standards, including auditor independence requirements, through the development of a robust, internationally appropriate code of ethics.”

To determine the best course of action for furthering its objective of achieving convergence of the IESBA Code and national standards and regulations, the IESBA will also consider input from regulators and national standard setters and compare key provisions in the IESBA Code to the standards and regulations of select jurisdictions.

Please visit www.ifac.org/Ethics to access the plan or to learn more about the IESBA.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC.

About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

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The Strategy and Work Plan sets the direction and priorities for activities of the International Ethics Standards Board for Accountants (IESBA) for the period 2011–2012. The strategy of the IESBA during this period is to build on the strong base established by the revised Code of Ethics for Professional Accountants issued in July 2009. The strategy comprises three activities.

Kim Gibson became a member of the International Ethics Standards for Accountants in January 2016.

Ms. Gibson is the global head of independence for Grant Thornton International and a partner with Grant Thornton LLP in the US. She is responsible for providing member firms with policy, guidance and training relating to independence matters, oversight of the automated global independence system used to monitor financial interests and the oversight of the international relationship checking process designed to prevent the provision of prohibited non-audit services to an audit client and conflicts of interests.

Ms. Gibson is a Certified Public Accountant.

Andrew Pinkney is a director with PricewaterhouseCoopers International Limited, based in London, and has current responsibilities connected with independence matters for the PwC Network.

Mr. Pinkney is a member of the Institute of Chartered Accountants in England and Wales, with experience in audit and transaction support, and has an MBA from the University of Warwick (UK). He has been involved with the activities of the International Ethics Standards Board for Accountants, notably the development of the Code of Ethics for Professional Accountants, for more than ten years.

The IESBA Strategic and Operational Plan 2008-2009 sets out the activities of the IESBA for the period 2008 to 2009 following the completion of its current projects on independence and on improving the clarity of the IFAC Code of Ethics for Professional Accountants. The plan is set within the context of the overall strategy of IFAC.