IFAC member organizations are champions of integrity and professional quality and proudly carry their membership as a badge of international recognition. Adopting and implementing the latest standards by the International Ethics Standards Board for Accountants (“IESBA”) is crucial to this. To support IFAC member organizations and their members, this article is published as part of an ongoing series summarizing the key changes to the International Code of Ethics for Professional Accountants (including International Independence Standards) (“the Code”). 

This article covers changes since our previous summary in August 2024 and focuses on changes included in the  2024 edition of the Code, as well as horizon scanning for future developments. It aims to provide only a high-level overview of changes; therefore, when implementing these updates, please refer to the Code for the full details of all the requirements and application material. 

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Christopher Arnold

Director

Christopher Arnold is a Director at the International Federation of Accountants (IFAC). He leads activities on contributing to and promoting the development, adoption and implementation of high-quality international standards, including the Member Compliance Program, Intellectual Property and Translations. Christopher is also responsible for IFAC’s SME (small- and medium-sized entities), SMP (small- and medium-sized practices) and research initiatives, which include developing thought leadership, public policy and advocacy. He was previously an Audit Manager for Deloitte and qualified as a professional accountant in a mid-tier accountancy practice in London (now called PKF-Littlejohn LLP). Christopher started his career as a Small Business Policy Adviser at the Association of Chartered Certified Accountants (ACCA).

 

Michelle Cardwell
Michelle Cardwell

Principal

Michelle joined IFAC at the start of 2024, focusing on accountancy education, thought leadership, and international standards. In this role, she is part of the team responsible for IFAC’s International Education Standards, and works with the International Panel on Accountancy Education on revisions and supporting guidance. Michelle also supports IFAC’s work to promote the development, adoption, and implementation of high-quality international standards.

Michelle began her career at Deloitte, where she spent over eight years in their risk advisory practice, specializing in providing financial reporting and financial management advice on a range of complex central government and transport projects. After leaving Deloitte, Michelle spent time at the Institute of Chartered Accountants of England and Wales (ICAEW), as well as the UK Financial Reporting Council’s Lab. In both roles, she was responsible for developing guidance, thought leadership, and policy pieces on a range of financial reporting, assurance, and sustainability topics.

Michelle is a chartered accountant (ICAEW). She holds a MSc in Public Policy and Administration from the London School of Economics, and a BS in Political Science and a BA in American Studies, both from Arizona State University.

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