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Ethics Survey: Breach of an Independence Requirement

The IESBA is seeking feedback from directors and audit committee members on its proposals to strengthen the framework that would apply when there has been a breach of its independence requirements. The proposals state that, when an independence requirement is breached, the audit firm would be required to discuss this breach (regardless of the significance of the breach) with those charged with governance, such as the audit committee, as soon as possible. The firm would also be required to discuss the remedial actions it proposes to take and obtain the audit committee’s concurrence that the actions are satisfactory.

If you are a director or audit committee member, please take the short survey now: www.research.net/s/IESBA-Survey-Breach-of-an-Independence-Requirement