The Long Association Post-Implementation Review (LAPIR) is to be carried out in two phases:
Phase 1
This phase will review the implementation status of the five-year cooling-off requirement for EPs on audits of PIEs, and any issues arising from the implementation of such requirement before the expiry of the transition period for the jurisdictional provision.
Phase 2
***Please Note: this is a closed event to AFAA Members Only, but will be live streamed on IFAC's YouTube channel***
The IFAC Virtual Knowledge Sharing Event will explore the pervasive nature of technology and its inter-related impact across the fundamental principles of the IESBA Code of Ethics for Professional Accountants. It will feature global experts sharing insights about ethics in the digital age, practical examples, as well as breakout sessions covering potential threats and safeguards.
Speakers:
The IAASB has introduced a new Technology Position that will guide how it adapts its work to embrace the intersection of audit, assurance, and technology. This new position marks a significant step forward in the IAASB’s ongoing commitment to enhancing the quality and relevance of its standards in the face of rapid technological advancement.
The IESBA today released a new staff publication providing additional context to the Board’s recently proposed revisions to the definition of a public interest entity (PIE). This staff publication supplements the guidance material in the explanatory memorandum of the Exposure Draft Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code (PIE ED), which was released in January.
This staff publication will assist local regulators, national standard setters or other relevant local bodies in considering and planning adoption of the revised PIE definition when finalized and issued by the IESBA. The IESBA recognizes that there may be refinements to the proposals as a result of the comments received on exposure.
In addition to the staff publication, the IESBA will provide two opportunities on March 25 and 29 for stakeholders to attend a webinar to learn more about the proposals in the PIE ED. Register for either one of the webinars here.
Click here to download the staff publication.
About IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).
Supplementary Publication to Support Local Adoption and Implementation
This publication provides additional context to the Board’s recently proposed revisions to the definition of a public interest entity (PIE) and supplements the guidance material in the explanatory memorandum of the Exposure Draft Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code (PIE ED), which was released in January.
New rules for how corporate auditors manage the quality of their own work are on their way. But many audit firms are worried that international standards will diverge from those in the U.S., leaving them to cope with a patchwork of do’s and don’ts.
On this episode of Bloomberg Tax's weekly podcast, Talking Tax, host Amanda Iacone talks with IAASB Chair Tom Seidenstein. Tom explains how the IAASB developed its new auditing standards with the input of its US counterpart and why the standards should help shape a similar project in the US.
Bloomberg Tax Podcast