This 2-page newsletter includes highlights of the various activities going on in and around the IESBA. In this edition, learn more about IESBA's technology initiative, the upcoming virtual Board Meetings, and much more. 

The International Ethics Standards Board for Accountants (IESBA) is pleased to announce new board appointments and reappointments to take effect on January 1, 2022.

The five new Board Members are:

• Mark Babington (Executive Director, Regulatory Standards, Financial Reporting Council, UK)
• Christelle Martin (Former Group Director, ENGIE Group, France)
• Felicien Muvunyi (Managing Partner, Garnet Partners, Rwanda)
• Luigi Nisoli (Partner, Deloitte, Italy)
• Channa Wijesinghe (Chief Executive Officer, Accounting Professional & Ethical Standards Board, Australia)

The following two current Board Members will continue their service for another term:

• Sanjiv Chaudhary (Senior Advisor - Policy & Regulations, KPMG, India)
• Andrew Mintzer (Principle, Hemming Morse, USA)

"I warmly welcome such a strong group of diverse and experienced professionals to the IESBA,” said Stavros Thomadakis, IESBA Chairman. “These are critical times for the profession as the global economy emerges from the COVID-19 pandemic and faces new challenges of sustainability. I am confident these individuals, along with the existing Board members, will serve the public interest with conviction in advancing high-quality ethics standards for the global accountancy profession.”

The IESBA also announces the reappointment of Caroline Lee as its deputy chair for 2022.

“I am very pleased that Caroline will continue serving as IESBA deputy chair in 2022," said Dr. Thomadakis. “As my term expires, I am confident that she will provide a steady voice as the Board transitions to welcoming our new chairwoman, Ms. Gabriela Figueiredo Dias, and that she will continue to serve as a strong advocate for IESBA across the globe.”

Today, the IESBA announced that the eCode – a digital tool to access and navigate the  International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) – will be moving to the recently announced eIS, or e-International Standards, platform.  eIS is a web-based platform that provides electronic access to the authoritative standards developed by the IESBA, the International Auditing and Assurance Standards Board (IAASB) and the International Public Sector Accounting Standards Board (IPSASB). In addition to the standards, eIS provides access to non-authoritative resource materials, including staff-prepared Basis for Conclusions and Questions and Answers publications.

“Over two years ago, the IESBA and IFAC jointly launched the eCode to provide a web-based resource for the adoption and use of the IESBA Code,” said Dr. Stavros Thomadakis, IESBA Chairman. “Now, with the launch of eIS, the profession has convenient access to an enhanced version of the eCode – or eCode 2.0 – alongside the digitized standards of the IAASB and the IPSASB. The new platform leverages technologies to further refine existing features and user experience of the eCode. The platform sets the stage for new functionalities in the future, including translations. I am confident that users will expand their use of eCode 2.0 and that the reach of the Code of Ethics will become even broader”.

The eIS is intuitive, easily navigable and offers direct access to the 2021 edition of the IESBA Handbook and relevant resources. The eCode has a new look that will further enhance the user experience regardless of the device used to access the Code.  Constituents across the breadth of the stakeholder community were surveyed during the development phase to learn how they currently use the standards and how that use could evolve in a digital environment. The eIS and eCode 2.0 also benefited from the input from representatives of the IESBA and IESBA staff.

“eIS is another significant leap forward as the IESBA continues to leverage modern technologies, including mobile access, to make the content of the Code as widely accessible, visible and user-friendly as possible,” said Ken Siong, the IESBA Program and Senior Director. “Between 2020 and 2021, as the eCode became a valuable resource for firms, national standard setters, regulators and audit oversight bodies, professional accountancy organizations, investors, academia and others, pageviews of the platform jumped nearly 40%. We’re looking forward to seeing that trend continue and accelerate under eIS.”

Users of the current eCode will still be able to access the platform at www.IESBAeCode.org until December 30, 2021. However, as of December 31, 2021, they will be re-directed to the eIS platform.

To learn more about eIS, click here. 

To learn more about the IESBA, visit www.ethicsboard.org.

This 2021 edition contains recently approved revisions to the Code, including:

The International Ethics Standards Board for Accountants (IESBA) today released the 2021 Edition of the Handbook of the International Code of Ethics for Professional Accountants (including International Independence Standards). The new edition contains recently approved revisions to the Code, including:

• The revisions to Part 4B to align terms and concepts used in the Code to those in the International Auditing and Assurance Standards Board’s (IAASB) International Standard on Assurance Engagements (ISAE) 3000 (Revised). Those revisions became effective in June 2021.
• The revisions to Parts 1 and 2 to promote the role and mindset expected of professional accountants. Those revisions will become effective in December 2021. Early adoption is encouraged.

Approved revisions which are not yet effective have been included in the back of the Handbook. These revisions will become effective in December 2022 and include:

• Revisions to the Code addressing the objectivity of an engagement quality reviewer and other appropriate reviewers.
• Revisions to the non-assurance services provisions of the Code.
• Revisions to the fee-related provisions of the Code.

Click here to access the 2021 edition of the IESBA Handbook.

Reproducing and Translating the IESBA Handbook
To help adoption and implementation of the IESBA standards, stakeholders are invited to submit requests for permission to reproduce or translate the IESBA Handbook online via the Online Permissions Requests or Inquiries system on the IFAC website.

About IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (The Code).