The two-part document covers firstly topics relevant to all professional accountants, and secondly, topics pertinent to auditors and other professional accountants in public practice. Dr. Stavros Thomadakis, Chairman of the IESBA, offers his thoughts in the publication’s foreword.
The document can be found on the IESBA’s COVID-19 resource page, which serves as the Board’s landing page for topics related to COVID-19, including links to useful resources.
This Questions and Answers (Q&A) publication was developed by the staff of the IESBA to highlight aspects of the International Code of Ethics for Professional Accountants (including International Independence Standards) that might be relevant in navigating ethics and independence challenges and risks as a result of the COVID-19 pandemic.
(New York, New York, May 1, 2020) – The International Ethics Standards Board for Accountants (IESBA) is pleased to announce the extension of Dr. Stavros Thomadakis as IESBA Chairman until the end of 2021. This appointment was proposed by the International Federation of Accountants Nominating Committee and recently approved by the Public Interest Oversight Board.
“I am honored to continue to lead the IESBA for a final term.” said Dr. Thomadakis. “We’ve gained considerable momentum with respect to global adoption of the IESBA Code, with approximately 80 countries adopting or in process of adopting the restructured 2018 version, and I am keen on expanding that further. In addition to pursuing IESBA’s priority standard-setting projects in the public interest, a key activity will be to assist IESBA’s stakeholders as they navigate the unprecedented challenges and ethical dilemmas arising from the COVID-19 pandemic. In this regard, the IESBA is working to expand its cooperation with others, including its ongoing coordination with the International Auditing and Assurance Standards Board (IAASB).”
Dr. Thomadakis is Emeritus Professor of financial economics at the University of Athens and an active member of the Hellenic Council for Corporate Governance, and of the Board of Trustees of the Cyprus Institute. He has taught at US universities (Baruch College CUNY, MIT), and has been a visiting scholar at Stern School of Business, NYU, and Yale University. He also served in many leadership roles, including as the first Chairman of the Public Interest Oversight Board (2005 to 2011) and Chairman of the Hellenic Capital Market Commission (1996-2004). Until late 2015, he also served as a member of the Securities and Markets Stakeholders Group of the European Securities and Markets Authority.
Szilvia Sramko joined the technical team of the International Ethics Standards Board for Accountants (IESBA) in February 2018. She currently leads Work Stream 1 – Independence Standards for Sustainability Assurance of the Sustainability Task Force. Previously, she provided technical support to other IESBA’s workstreams, such as the Engagement Team/ Group Audits, Fees and Non-Assurance Services projects, and the Benchmarking initiative.
Prior to joining the IESBA, Ms. Sramko was Deputy Head of Department at the Auditors’ Public Oversight Authority in Hungary (Budapest). Before that, she served in several roles at the Ministry for National Economy in Hungary and participated in preparing legislative proposals to transpose the amendments to the European Union’s Accounting and Audit Directives into the national law.
Ms. Sramko holds a Doctor of Law degree from Eotvos Lorand University (Budapest, Hungary) along with a Master 1 degree in comparative law from Université Paris II Pathéon-Assas and Eotvos Lorand University (Paris, France / Budapest, Hungary).
Diane Jules is a former director of the International Ethics Standards Board for Accountants (IESBA). Since assuming the role in 2016, Ms. Jules worked to advance IESBA's strategic goals and priorities. She was integral to developing ethics and independence standards for global application and works closely with the chair and the IESBA to promote awareness, use and adoption of the International Code of Ethics for Professional Accountants (including International Independence Standards). Ms. Jules’ responsibilities included building and strengthening IESBA’s relationships with its stakeholders which include investors, regulators, academics, firms and national standards setters. She oversaw IESBA’s operational activities, specifically in relation to its communication initiatives.
Ms. Jules was the key staff on the IESBA’s Non-Assurance Service Task Force and currently oversees the Board’s workstreams on technology and sustainability. Following the successful development and June 2019 launch of the IESBA eCode — a digital platform for accessing and navigating the IESBA Code. Prior to joining the IESBA, Ms. Jules was a Senior Technical Manager at the International Auditing and Assurance Standards Board, and before that an Assistant Chief Auditor at the U.S. Public Company Accounting Oversight Board (PCAOB). Prior to her career in standard-setting, Ms. Jules held various audit and professional practice positions, including as an Assurance Manager at Grant Thornton, LLP.
Ms. Jules was among the 77 women listed as Crain’s New York Business 2019 Notable Women in Accounting and Consulting. She is an active member of the New York State Society of CPAs and the American Institute of CPAs. Ms. Jules has been featured in industry publications, including the Strategic Finance Magazine and the Journal of Accountancy. She conducts editorial reviews on technical submissions to the Advances in Accounting Education: Teaching and Curriculum Innovations Series and the CPA Journal. She holds a Bachelor of Science degree in Accounting and Finance from the University of Maryland College Park and is a licensed certified public accountant (CPA). She is also a chartered global management accountant (CGMA).
Watch the April 20 webinar to hear about IESBA's initiative on exploring the ethics implications arising from the transformative effects of technological trends and developments on the accounting, assurance, and finance functions.
The new comment deadline is June 4, 2020. Stakeholders who are able to submit their feedback by May 4, 2020, the original comment deadline, are encouraged to do so.
For additional information about the EDs, including webinars that highlight key aspects of the proposals, please visit the IESBA’s website.
About the IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA serves 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 IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).
