In this interview, Dr. Stavros Thomadakis, Chair of the International Ethics Standards Board for Accountants, discusses his vision for the board, public reaction to its proposals regarding how accountants should respond when they encounter acts of non-compliance with laws and regulations, and the role of accountants in deterring corrupt behavior. 

This article was first published in IS Chartered Accountant, November 2015. Reproduced with permission from the Institute of Singapore Chartered Accountants.

IFAC has submitted comments on the IFRS Conceptual Framework ED. IFAC commends the International Accounting Standards Board (IASB) on its efforts in reactivating the Framework project, and recommends a number of additional conceptual areas for consideration including in regard to business models, and financial performance. IFAC also provides specific comments and recommendations regarding several areas in the ED including stewardship, prudence, definitions of assets and liabilities, measurement bases, and presentation and disclosure.