The Staff of the International Ethics Standards Board for Accountants (IESBA) has released an updated Q&A publication to support the adoption and implementation of the revised long association provisions Changes to the Code Addressing Long Association of Personnel with an Audit or Assurance Client.  This publication is a revised version of the Staff Q&A publication published in May 2017. It contains additional frequently asked questions and is aligned to the revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), issued by the IESBA in April 2018.

The Q&A publication is designed to highlight, illustrate, or explain aspects of the revised partner rotation regime in the Code and thereby assist in their proper application. It is intended to assist national standards setters, firms, IFAC member bodies and others as they adopt and/or implement the revised and restructured long association provisions in Part 4A of the Code.

The staff of the IESBA has released an updated Q&A publication to support the adoption and implementation of the revised long association provisions Changes to the Code Addressing Long Association of Personnel with an Audit or Assurance Client.

Watch the April 17, 2019 IESBA webinar supporting the rollout of its International Code of Ethics for Professional Accountants (including International Independence Standards).

In late June 2019, the International Ethics Standards Board for Accountants^® (IESBA^®) will launch its eCode—an innovative digital product that offers professional accountants a new way to engage with the International Code of Ethics for Professional Accountants (including International Independence Standards).

To introduce the eCode, the IESBA invites you to join a 30-minute webinar on Wednesday, June 12, 2019 at 10am EST.

During the webinar, IESBA Member Brian Friedrich will explain IESBA’s vision for the eCode and provide a quick walkthrough to demonstrate the eCode’s structure, key features and functionalities. Don’t miss out on this wonderful opportunity to learn about this product.

To join, click the link below to register:

• Wednesday June 12^th 2019 at 10 a.m. EST

More information about the Code is available at the IESBA’s website.   

If you have questions about this webinar, please email Carla Vijian.

Gaylen R. Hansen has been appointed chair of the Consultative Advisory Group (CAG) to the International Ethics Standards Board for Accountants (IESBA), effective July 1, 2019. His appointment, which has been approved by the Public Interest Oversight Board, follows his election by IESBA CAG members. He has served on the IESBA CAG representing the US National Association of State Boards of Accountancy since 2010.

As chair, Mr. Hansen will lead the IESBA CAG―an independent body of international organizations from the regulatory, corporate governance, investor, preparer and user communities, and other stakeholders—in providing strategic and technical advice to the IESBA in the public interest. Mr. Hansen will play a key role in ensuring that the CAG’s views are considered in IESBA deliberations.

For over a decade, Mr. Hansen served on the board of directors, and as chair from 2012 to 2013, of NASBA, a key participant in US accountancy profession regulation. He is also a founding member of NASBA’s Center for the Public Trust, and represents NASBA on the International Auditing and Assurance Standards Board CAG.

Mr. Hansen is also a member of the American Institute of CPAs’ Auditing Standards Board and a past member of its Professional Ethics Executive Committee. He is a past member of the US Public Company Accounting Oversight Board’s Standing Advisory Group and a retired audit partner.

“I am honored to have been elected IESBA CAG chair,” said Mr. Hansen. “The CAG plays a vital role in enabling all those concerned in the work of, or services provided by, professional accountants to have a voice in the development and maintenance of standards that ensure a high level of ethical conduct. I look forward to shepherding the CAG’s diversity of experience to assist the IESBA setting robust ethics standards.”

Mr. Hansen will succeed Mr. Kristian Koktvedgaard, who has served as CAG Chair since July 2013. “I congratulate Gaylen on his appointment as CAG chair,” said Mr. Koktvedgaard. “His experience and commitment working on ethics combined with his strong knowledge in audit, assurance and accounting issues is a great asset, and I am confident he will lead the CAG effectively in providing sound strategic and technical advice.”

Commenting on Mr. Hansen’s appointment, Dr. Stavros Thomadakis, IESBA Chairman, said, “Gaylen is a veteran in policy matters relating to the accountancy profession. His experience will serve the CAG well in its objective to provide public interest input to our standards development work. I congratulate Gaylen and I very much look forward to working with him in his new leadership role. On behalf of the IESBA, I also thank Kristian for his outstanding contribution to our work and his strong leadership of the CAG over the years. I wish him continued success in his future endeavors.”

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).

The structures and processes that support IESBA operations are facilitated by IFAC.

Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

The International Ethics Standards Board for Accountants (IESBA) presents the board’s strategy and priorities toward the setting of high-quality, future-ready ethics standards for professional accountants that are widely adopted around the world.  Building on the newly revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), which will come into effect in June 2019, the IESBA’s Strategy features three inter-related strategic themes:

The International Ethics Standards Board for Accountants (IESBA) today released its Strategy and Work Plan, 2019-2023. Titled Elevating Ethics in a Dynamic and Uncertain World, the publication describes the board’s strategy and priorities toward the setting of high-quality, future-ready ethics standards for professional accountants that are widely adopted around the world.  

Building on the newly revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) which will come into effect in June 2019, the IESBA’s Strategy features three inter-related strategic themes:

• Advancing the relevance and impact of the Code, through maintaining a global Code fit for purpose in the evolving environment, and further raising the bar on ethics;
• Deepening and expanding the Code’s influence, through increasing global adoption and effective implementation of the Code; and
• Expanding the IESBA’s perspectives and inputs, through proactively engaging and seeking cooperative avenues with stakeholders.

Supporting the achievement of these strategic themes is a comprehensive and ambitious Work Plan. The Plan outlines commitments, priorities, planned actions of the Board and key milestones, including continued strong coordination with the IAASB as and where needed.

“This new Strategy and Work Plan embodies our clear determination to pursue global public interest objectives and outcomes, underpinned by our firm belief in the centrality of Ethics and in a unified Code for all professional accountants,” said IESBA chairman Dr. Stavros Thomadakis, adding, “The priorities and actions in the SWP have been calibrated to safeguard the relevance of the Code in an era of changing technologies, business methods and public expectations, and to reinforce its role as a linchpin of public trust in the profession.”

The development of the Strategy and Work Plan was informed by broad-based stakeholder input over the last two years, including a survey of stakeholders and a public consultation paper.

To learn more about the board and its work, visit www.ethicsboard.org.

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).

The structures and processes that support IESBA operations are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

In June 2019, the IESBA will launch its eCode—a bold innovation that offers professional accountants a new way to engage with the International Code of Ethics for Professional Accountants (including International Independence Standards). The document below provides a refresher on the Code’s architecture and explains the objective of, and the rationale for, the eCode. It also highlights the eCode’s key features and provides launch timing information.