Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients

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    Exposure Drafts and Consultation Papers

    IESBA

    Published: May 20, 2014
    24 Pages

    English

     

    Comments due by:
    Aug 18, 2014

    Find more publications & resources related to:
    independence, IESBA, Code of Ethics

    Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients

    The proposed changes aim to enhance the independence provisions in the Code of Ethics for Professional Accountants (the Code) by:

    • Providing additional guidance and clarification regarding what constitutes management responsibility, including enhanced guidance regarding how the auditor can better satisfy itself that client management will make all judgments and decisions that are the responsibility of management, when the auditor provides non-assurance services to an audit client; 

    • Providing better guidance and clarification on the concept of “routine or mechanical” services relating to the preparation of accounting records and financial statements for non-public interest entity audit clients; and

    • Removing the provision that permits an audit firm to provide certain bookkeeping and taxation services to public interest entity audit clients in emergency situations.

    Please note: As of June 23, 2014, an editorial correction has been made to the ED. The mark-up section now shows the proposed deletion of paragraphs, 290.164, 290.174, and 291.145, which had inadvertently been omitted in the original. 

     

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