IESBA sets out five-year strategy on ethics standards

The International Ethics Standards Board for Accountants (IESBA) has published details of its priorities for setting future-ready ethics standards for professional accountants, along with its five year strategy and work plan

Titled Elevating Ethics in a Dynamic and Uncertain World, the publication outlines how the board plans to build on the newly revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards), which will come into effect in June 2019.

IESBA’s strategy features three inter-related strategic themes. The first concerns 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.

Secondly, IESBA is looking to deepen and expand the code’s influence, through increasing global adoption and effective implementation of the code. In addition, it is seeking to expand its perspectives and inputs, through proactively engaging and seeking cooperative avenues with stakeholders.

Supporting the achievement of these strategic themes is IESBA’s work plan, which outlines commitments, priorities, planned actions of the Board and key milestones, including continued strong coordination with the IAASB as and where needed.

Dr. Stavros Thomadakis, IESBA chairman, said: ‘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.

‘The priorities and actions in the strategic working plan 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 stakeholder input over the last two years, including a survey of stakeholders and a public consultation paper.

IESBA strategy and work plan, 2019-2023

By Pat Sweet

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