Structure of the Code
This is an active initiative.
Don Thomson (Chair)
Objective(s) of project
The tentative objective of the initiative is to identify and recommend to the Board ways to improve the clarity and usability of the Code thereby facilitating its adoption, effective implementation and consistent application.
Task Force progress / Board discussions to date
At its June 2012 meeting the IESBA discussed this topic.
At its December 2012 meeting the IESBA supported the establishment of a Working Group.
In February 2013 the Working Group held its initial meeting.
At its March 2013 meeting the IESBA considered the Working Group's initial status report and draft Terms of Reference.
At its June 2013 meeting the IESBA approved the terms of reference for the working group formed to advise the board on ways to improve the usability of the Code. The IESBA also supported the working group’s research plan and proposed timeline for the initiative, and provided suggestions for the working group to consider as it undertakes the research.
At its September 2013 meeting the IESBA received an update on the Structure of the Code Working Group’s preliminary analysis of research findings regarding ways to improve the usability of the Code. Amongst other matters, the IESBA discussed the topics of enhancing the visibility of the Code’s requirements; clarifying responsibility for compliance with the Code’s requirements; simplifying the language in the Code; repackaging parts of the Code; and an electronic Code.
The IESBA will receive the Working Group’s preliminary report at its December 2013 meeting.