This staff-prepared Basis for Conclusions provides a summary of the board’s decisions in response to significant comments from respondents on the May 2015 Exposure Draft.

It relates to, but does not form part of the IESBA Pronouncement, Responding to Non-Compliance with Laws and Regulations.

This standard sets out a framework to guide auditors and other professional accountants in what actions to take in the public interest when they become aware of a potential illegal act, known as non-compliance with laws and regulations, or NOCLAR, committed by a client or employer.