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).
On November 20th, 2019 the International Ethics Standards Board for Accountants (IESBA), the ASEAN Federation of Accountants, and the Institute of Singapore Chartered Accountants co-hosted a 90-minute webinar focusing on the key features of the International Code of Ethics for Professional Accountants.
The COVID-19 pandemic is a global health and humanitarian crisis. Beyond the significant challenges that lay ahead in all facets of life, it also poses unprecedented risks to the world economy. The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) are committed to doing our part to support a strong global response.
IAASB and IESBA are committed to continuing our work, albeit virtually, and seizing opportunities to adapt how we work, and what we work on, considering global needs and priorities.
In the short-term, we have transitioned to fully digital platforms to execute day-to-day work, plenary meetings and stakeholder outreach. In addition, we are developing, or will consider commissioning and/or sourcing reference materials, as appropriate for each Board, to help our stakeholders continue their work. To that end, we will be creating web resources on each board’s website with COVID-19 related messages and materials.
We are coordinating with the Public Interest Oversight Board (PIOB), regulatory authorities, and national standard setters on our approach. We are also discussing with the PIOB the best way to balance timeliness and the very real operational constraints many stakeholders face. These discussions will consider our stakeholders’ ability to provide feedback according to existing timelines and whether flexibility is required.
We are adapting rapidly and trying to be sensitive to many difficulties. We will place a priority on remaining closely linked with all our stakeholders during these trying times and will continue to review our response, as we may not get it right the first time, and may need to adjust further as the global situation changes. The IAASB, IESBA, and their staff stand ready to help where and when possible.
We continue our work for the public interest. We understand the unprecedented crisis will bring unprecedented challenges. And we will meet them with a decisive and timely response.
(a) The objective of this project is to develop provisions for the Code addressing threats that may be created when an individual who was previously involved in an
audit or other assurance engagement (whether as the engagement partner or as another member of the engagement team) is appointed as the EQR on the
(a) To align the definition of the term “engagement team” in the Code with the revised definition of the same term in proposed ISA 220 (Revised) while ensuring that
the independence requirements in the IIS are clear and appropriate and apply only to those individuals within the scope of the revised definition who must be
independent in the context of the particular audit engagement; and
All stakeholders are invited to register and participate.
The IESBA invites you to join a 45-minute webinar on Monday, April 20, 2020 at 4pm EDT to hear about its initiative on exploring the ethics implications arising from the transformative effects of technological trends and developments on the accounting, assurance, and finance functions.
During the webinar, the IESBA’s Technology Task Force Chair, Brian Friedrich, will outline the background to the initiative and explain the key findings and recommendations in the IESBA’s Technology Working Group’s Phase 1 Report. Don’t miss out on this wonderful opportunity to learn about the IESBA’s work in this strategic area for the global accountancy profession.
This webinar will be recorded. If you are interested in joining but unable to attend, please register and a link to the recording will be provided.
Due to the ongoing COVID-19 pandemic, the International Ethics Standards Board for Accountants (IESBA) will host their upcoming board meeting virtually by video teleconference instead of gathering in New York City June 8 - 12 & 15.
