This is the fifth installment of a 12-month publication series titled Exploring the IESBA Code.

Installment 5 explains how to apply the Code's conceptual framework to independence.

For more information about the Code, click here.

This publication has been prepared to highlight key areas of focus in the current environment when undertaking procedures relating to, and concluding on, the appropriateness of management’s use of the going concern basis of accounting in accordance with the International Standards on Auditing.

It does not amend or override the ISAs, the texts of which alone are authoritative. Reading this publication is not a substitute for reading the ISAs.

These extraordinary circumstances offer small- and medium-sized practices (SMPs) significant opportunities to adapt and service a rapidly changing world. IFAC has developed thought leadership on practice transformation, focused on how SMPs can embrace change, leverage technology, manage talent and have a renewed emphasis on providing relevant and value-added services.

The Technology Working Group (TWG) of the International Auditing and Assurance Standards Board (IAASB) published non-authoritative support material related to the auditor’s documentation when using automated tools and techniques (ATT), such as data analytics, robotics automation processes or artificial intelligence applications.