SMPC Comment Letter on IESBA Exposure Draft: Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants

SMP Committee
Nov 11, 2019 | Comment Letters
English

While the SMP Committee is supportive of the Ethics Board’s exploration of concepts other than professional skepticism to capture the behavior expected of all professional accountants (PAs), it is not convinced it is necessary to add the currently proposed standalone requirement outside the fundamental principles. The SMP Committee is also concerned about the proposed changes on upholding ethical values, which appears to go beyond the Code. "Acting in the public interest" is a challenge for PAs as it is not a globally universal definition, making interpretation different from jurisdiction to jurisdiction.

 

Copyright © 2019 The International Federation of Accountants (IFAC). All rights reserved.

 

Related Resources

 

Looking for the standard-setting boards?

View Boards Site

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.