Supporting International Standards

SMPAG Response to the IESBA's Future Strategy and Work Plan Survey

IFAC
Jul 13, 2022 | Comment Letters
English

The IFAC SMP Advisory Group (SMPAG) welcomes the opportunity to provide input to the International Ethics Standards Board for Accountants (IESBA) Strategy Survey 2022.

Overall, the SMPAG supports the IESBA's focus on developments in sustainability reporting and assurance in its next strategy period. The SMPAG supports the IESBA in exploring its potential role and actions - which might not necessarily involve additional standard setting, but rather non-authoritative guidance.

The SMPAG supports the IESBA exploring the concept of expanding the scope of the Code to cover assurance service providers other than professional accountants in public practice (PAPPs), but cautions that the IESBA should proceed carefully. An additional concern is that recent projects have had a very strong public interest entity (PIE) focus, and the SMPAG would ask the Board to ensure that non-PIEs are considered during outreach (in particular in relation to sustainability) and that scalability is considered with any new projects that are introduced. The SMPAG also believes there may be a decrease in adoption rates due to the pace of change and complexity of recently issued changes - and that this should be a strategic focus of the IESBA.

 

Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.

 

Related Resources

 
 

Get the latest updates delivered to your inbox

Subscribe now

 
 

LOOKING FOR BOARD STANDARDS?

View Boards Site

 

Translations & Permissions

Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.

IP permissions and policies

  

Explore More On...

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.

Agree