SMPC Comment Letter on IESBA Exposure Draft: Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants
Nov 11, 2019 | Comment Letters
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.
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.