IESBA consults on changes to ethics code for non-audit work

The International Ethics Standards Board for Accountants (IESBA) is consulting on planned changes to the code of ethics to ensure it is in line with the International Auditing and Assurance Standards Board’s (IAASB) independence standards for non-audit related assurance engagements

IESBA’s proposed revision is to part 4B of the code to reflect terms and concepts used in ISAE 3000 (revised), which covers assurance engagements other than audits or reviews of historical financial information.

The proposals in the exposure draft include changes in key terminology, including a revised definition of the term ‘assurance client’, enhanced and clarified independence requirements for attestation engagements, and clarification of the types of assurance engagement addressed in Part 4B.

In addition, there is simplified guidance on assurance engagements that refer to the definitive source of explanatory material on such engagements in IAASB literature.

The proposals were developed in close cooperation with representatives of the IAASB, as part of the coordination program of the two standard-setting boards.

The deadline for comments is 26 June 2019.

IESBA Exposure Draft, Proposed Revisions to Part 4B of the Code to Reflect Terms and Concepts used in ISAE 3000 (Revised)

Report by Pat Sweet

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