Today, the International Ethics Standards Board for Accountants (IESBA) announced it is holding two global webinars focused on its recently released Exposure Draft: Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code (PIE ED).

Please click below to register and join us for one of the 60-minute webinars (both will cover the same information and are being offered to accommodate different time zones).

• Thursday, March 25, 2021, 4:00 AM - 5:00 AM EDT
• Monday, March 29, 2021 9:00 AM - 10:00 AM EDT

During the webinars, the PIE Task Force Chair, Mr. Mike Ashley, will explain the IESBA’s key proposals in the ED, including:

• The introduction of an overarching objective for additional independence requirements for audits of PIEs
• Approach to revising the PIE definition and the introduction of a new term “publicly traded entity” to replace “listed entity”
• Anticipated role of regulators, national standard setters and other relevant local bodies to refine the PIE definition as part of the adoption process
• Increased role of firms

Don’t miss out on this unique opportunity to engage with representatives of the IESBA and learn more about these important proposals which will affect the scope of application of the IESBA’s International Independence Standards.

The IESBA welcomes comments on the PIE ED from all stakeholders, including investors and other users of financial statements, the corporate governance community, the regulatory and audit oversight community, preparers, firms, national standard setters, IFAC member bodies, academics and others.

The comment deadline for the PIE ED is May 3, 2021. 

If you have any questions, please email Geoff Kwan at GeoffKwan@ethicsboard.org.

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).

Watch the webinar: 

The global search for an individual to lead the International Ethics Standards Board for Accountants (IESBA) has begun and applications from qualified candidates around the globe are being accepted.

An essential element of the IESBA Chair’s role is to ensure that the activities of the IESBA maintain a public interest focus while developing high-quality ethics, including independence, standards. The Chair brings a strategic mindset to the development and implementation of Board objectives and fulfills several interrelated roles, serving as leader, spokesperson and stakeholder liaison. The incumbent will facilitate the consultative processes that underpin the board’s credibility and activities. He or she will also develop and maintain effective relationships with international oversight authorities and regulatory bodies, national standard setters, investor and corporate governance communities, preparers and other professional accountants in business, accounting firms, professional accountancy bodies, international policy makers and other key stakeholders.

The IESBA Chair must have significant and senior experience and will be well recognized within the professional and regulatory communities. He or she has effective leadership, diplomacy, communication and strategic skills; demonstrated professional competency; and a strong commitment to the IESBA’s mission to protect the public interest.

In line with recommendations of the Monitoring Group detailed in the Strengthening The International Audit And Ethics Standard-Setting System, the IESBA Chair will lead the board through the transition while maintaining the continued effective execution of the IESBA Strategy and Work Plan 2019 - 2023.

The IESBA Chair is a full-time executive position. The Chair is appointed for an initial three-year term, commencing January 1, 2022 and could be re-appointed for a total tenure of nine years. Relocation is not required for this role. However, candidates are expected to have a robust plan for how they would lead the IESBA and staff from a remote location. The role requires a commitment to significant international travel.

A complete job description, along with application instructions, is available online. Applications are due April 30, 2021.

This global search is being conducted by the Interim Nominating Committee, which was established by the Monitoring Group in February 2021 to conduct the selection process for the next IESBA Chair. More information on the Committee is available online.

CHANGES OF SUBSTANCE FROM 2018 EDITION

The 2020 handbook of the International Code of Ethics for Professional Accountants replaces the 2018 edition and includes the following changes:

Xiaoye Yuan is an Ethics Researcher in the Professional Standards and Technical Guidance Department of the Chinese Institute of Certified Public Accountants (CICPA). Ms. Yuan is mainly in charge of researching and revising China Code of Ethics for CPA. She is also a member of the Ethics Group of the Asia Pacific Association of Accountants (CAPA).

Ms. Yuan has a Master of Auditing (Maud) from the Capital University of Economics and Business in China.

Marta Kramerius became a Technical Advisor in September 2020.

Ms. Kramerius is the Director of Global Independence at Deloitte Touche Tohmatsu Limited where she began working in 2011 as the Deputy Director of Independence. Previous to Deloitte, Ms. Kramerius served a supervising associate of EMEIA Independence at Ernst & Young AG, Basel, Switzerland.

Ms. Kramerius has earned a Masters in Advanced European Studies from the University of Basel, a Masters in International Relations from Adam Mickiewicz University in Poznan, and studied international law at the Otto-Friedrich University of Bamberg.

The International Ethics Standards Board for Accountants (IESBA) applauds the announcement by The Monitoring Group (MG), the International Federation of Accountants (IFAC), and the Public Interest Oversight Board (PIOB) of the establishment of an Interim Nominating Committee to select the next Chair of the IESBA.

We look forward to the official call for nominations and the formal selection process to find a successor for Dr. Stavros Thomadakis, whose term will be ending at the end of this year.