Building Trust & Ethics
SMP Committee Response to the IESBA Exposure Draft on Improving the Structure of the Code
May 25, 2017 | Comment Letters
The IFAC Small and Medium Practices (SMP) Committee submitted this comment letter to the International Ethics Standards Board for Accountants (IESBA) in response to its Exposure Draft, Improving the Structure of the Code of Ethics for Professional Accountants—Phase 2.
The SMP Committee continues to support the International Ethics Standards Board for Accountants (IESBA) efforts to improve the structure, understanability, and usability of the Code of Ethics for Professional Accountants. Among other comments, the SMP Committee's feedback includes encouraging the IESBA to:
- employ less conventional means of requesting feedback to encourage participation from SMPs, which may have limited resources
- always prioritize attaining ethical behavior through application of principles rather than mere prescription, which will help increase compliance rates and allow for improved compatability with national requirements.
Copyright © 2019 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.