Drafting Conventions - Completed

Project Status

Project In Progress.

Task Force

Ken Dakdduk, Chair
David Devlin
Jean-Luc Doyle
Kareem Hoosain
Peter Hughes
Michael Niehues
Tim Volkmann

Background

In March 2007, the IESBA commenced a project to consider the applicability of the clarity conventions adopted by the International Auditing and Assurance Standards Board on the Code of Ethics for Professional Accountants. The objective of the project was to improve the drafting conventions used in the Code so as to enhance the clarity and understandability of its provisions.
The project considered the following significant issues:

• Wording to indicate requirements
  
• Temporary departure from a requirement
  
• Description of each category of threats
  
• Clarifying the term "clearly insignificant"
  
• Clarifying the description of the conceptual framework approach
  
• Clarifying the terms "consider", "evaluate" and "determine"

The IESBA issued an exposure draft in July 2008. The comment period for the exposure draft ended on October 15, 2008.

The IESBA approved the proposed changes to the Code resulting from this project in April 2009. In June 2009, the Public Interest Oversight Board confirmed that due process had been followed in the development of these changes to the Code. In July 2009, the IESBA issued the proposed changes to the Code resulting from this project and the Basis for Conclusions.