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IFAC SMPAG Response to IESBA Strategy and Work Plan 2024-2027 Consultation Paper

| Comment Letters

The IFAC Small- and Medium-Sized Practices Advisory Group (SMPAG) welcomes the opportunity to provide input to the International Ethics Standards Board for Accountants (IESBA) Strategy and Work Plan 2024-2027 Consultation Paper.

The SMPAG generally supports the IESBA’s Proposed Strategy and Work Plan for 2024-2027 but cautions that the IESBA should be sensitive to the volume and number of changes going forward. SMPs and Professional Accountancy Organizations (PAOs) are continuing to struggle with the implementation and adoption of new and revised standards because of the pace of change. The SMPAG is supportive of an approach that minimizes revisions to the Code, which should only be made when essential. Non-authoritative guidance should be issued where possible in response to emerging issues. Where any revisions to the Code are made, scalability and the impact on SMPs should be carefully considered.

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