Elevating Ethics and Independence Standards for a Complex World summarizes the IESBA's accomplishments for 2020 and 2021. The Report includes the final message from Dr. Stavros Thomadakis in his role as IESBA Chairman and showcases the significant progress that the IESBA has made on behalf of the public interest. It also provides an overview of the IESBA’s extensive stakeholder outreach efforts and information about the Board’s partnership with IFAC to promote awareness, adoption, and effective implementation of the Code. 

The International Auditing and Assurance Standards Board (IAASB) today released non-authoritative guidance, The Fraud Lens – Interactions Between ISA 240 and Other ISAs. The guidance illustrates the relationship and linkages between International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and other ISAs when planning and performing an audit engagement and reporting thereon.

The IAASB recently approved a project proposal to revise ISA 240 to enhance or clarify an auditor’s responsibilities on fraud in an audit of financial statements. In the interim, this non-authoritative guidance illustrates how extant ISA 240 is to be applied in conjunction with the full suite of ISAs. As part of the project, additional non-authoritative guidance may be developed to further support the implementation and application of the proposed revised standard, once developed.

This non-authoritative guidance illustrates the relationship between International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and other ISAs when planning and performing an audit engagement and reporting thereon. It also illustrates how ISA 240 is currently applied in conjunction with the full suite of ISAs.

The document below provides a detailed explanation of how Figure 2 in the Consultation Paper, Natural Resources, was developed.

The Mid Period Work Program Consultation Summary (Consultation Summary) reflects the IPSASB’s deliberations and decisions related to the responses received to the 2021 Mid Period Work Program Consultation. The Consultation Summary highlights the process followed in deciding what projects to add, and the IPSASB’s basis for those decisions.

The projects added to the 2022 IPSASB Work Program are:

-       Presentation of Financial Statements;

The International Ethics Standards Board for Accountants (IESBA) invites stakeholders to join a global webinar it will be holding on its recently released final pronouncement, Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code.