Proposed Revisions Pertaining to Safeguards in the Code—Phase 1

IESBA

Dec 21, 2015 | Exposure Drafts and Consultation Papers

English

Don't see your language? Request permission to translate

Comments due by: Mar 21, 2016

This Exposure Draft (ED) includes enhanced requirements and application material pertaining to the application of the conceptual framework in the Code of Ethics for Professional Accountants (the Code), including safeguards.

Key enhancements proposed in the Safeguards ED, which is presented in accordance with the new structure and drafting conventions, include:

More robust and prominent requirements related to the application of the conceptual framework, including a required overall assessment of the judgments made and conclusions reached;
A clearer and more robust description of the concept of safeguards, and clarified and streamlined examples of safeguards; and
New guidance regarding the application of the concept of a “reasonable and informed third party” that is essential to properly applying the conceptual framework.

Exposure Draft

Mapping Table

Submitted Comment Letters

VRC (181.79 KB)
(Netherlands)

Mar 2, 2016
Crowe Horwath International (131.57 KB)
()

Mar 3, 2016
Crowe Horwath International (131.3 KB)
()

Mar 3, 2016
FSR - danske revisorer (351.44 KB)
(Denmark)

Mar 16, 2016
Institute of Singapore Chartered Accountants (ISCA) (389.27 KB)
(Singapore)

Mar 16, 2016
New Zealand Auditing and Assurance Standards Board of the XRB (257.39 KB)
(New Zealand)

Mar 17, 2016
New Zealand Auditing and Assurance Standards Board of the XRB (257.39 KB)
(New Zealand)

Mar 17, 2016
The Institute of Chartered Accountants [Ghana] (ICAGH) (950.05 KB)
(Ghana)

Mar 18, 2016
Office of the Auditor-General of New Zealand (9.94 MB)
(New Zealand)

Mar 20, 2016
Malaysian Institute of Accountants (MIA) (718.7 KB)
(Malaysia)

Mar 21, 2016
Institut der Wirtschaftsprüfer e.V. (IDW) (1.63 MB)
(Germany)

Mar 21, 2016
KICPA (146.46 KB)
(Korea)

Mar 21, 2016
RSM International Limited (475.87 KB)
(United Kingdom)

Mar 21, 2016
ICAEW (217.38 KB)
(United Kingdom)

Mar 21, 2016
The Institute of Chartered Accountants of Bangladesh (ICAB) (284.62 KB)
(Bangladesh)

Mar 21, 2016
Wirtschaftsprueferkammer (65.09 KB)
(Germany)

Mar 21, 2016
ICAS (372.48 KB)
(United Kingdom)

Mar 21, 2016
Association of Accounting Technicians (216.7 KB)
()

Mar 21, 2016
Association of Accounting Technicians (216.7 KB)
()

Mar 21, 2016
BDO (260.28 KB)
(United Kingdom)

Mar 21, 2016
International Association of Insurance Supervisors (IAIS) (246 KB)
()

Mar 21, 2016
Deloitte Touche Tohmatsu Limited (91.84 KB)
()

Mar 21, 2016
Independent Regulatory Board for Auditors (IRBA) (859.17 KB)
(South Africa)

Mar 21, 2016
National Association of State Boards of Accountancy (56.91 KB)
(United States of America)

Mar 21, 2016
South African Institute of Chartered Accountants (261.04 KB)
(South Africa)

Mar 21, 2016
KPMG IFRG Limited (67.53 KB)
(United Kingdom)

Mar 21, 2016
Institute of Certified Public Accountants of Kenya (252.17 KB)
(Kenya)

Mar 21, 2016
Chartered Professional Accountants of Canada (58.75 KB)
(Canada)

Mar 21, 2016
IFAC SMP Committee (66.47 KB)
()

Mar 21, 2016
Samenwerkende Accountantskantoren (SRA) (45.79 KB)
(Netherlands)

Mar 21, 2016
Grant Thornton International Ltd (GTI) (268.32 KB)
()

Mar 21, 2016
United States Government Accountability Office (GAO) (130.93 KB)
()

Mar 21, 2016
RSM UK (331.92 KB)
(United Kingdom)

Mar 21, 2016
Hong Kong Institute of Certified Public Accountants (151.14 KB)
(Hong Kong, Special Administrative Region of China)

Mar 22, 2016
FAR - the Institute for the Accountancy Profession in Sweden (807.51 KB)
(Sweden)

Mar 22, 2016
Ordre des Experts Comptables et Financiers de Madagascar (OECFM) (144.71 KB)
(Madagascar)

Mar 23, 2016
AICPA (423.56 KB)
(United States of America)

Mar 23, 2016
PricewaterhouseCoopers International Limited (171.41 KB)
()

Mar 24, 2016
Chartered Accountants Australia and New Zealand (CA ANZ) (165.46 KB)
()

Mar 24, 2016
Association of Chartered Certified Accountants (94.72 KB)
()

Mar 28, 2016
Accounting Professional & Ethical Standards Board Limited (APESB) (482.79 KB)
(Australia)

Mar 30, 2016
Institute of Public Accountants (655.97 KB)
(Australia)

Mar 31, 2016
CPA Australia (CPA Au) (33.47 KB)
(Australia)

Apr 1, 2016
Financial Reporting Council (FRC) (229.16 KB)
(United Kingdom)

Apr 1, 2016
ASSIREVI (1.14 MB)
(Italy)

Apr 4, 2016
Ernst & Young Global Limited (360.12 KB)
()

Apr 5, 2016
The National Federation of Certified Public Accountant Associations of the Republic of China (NFCPAAROC) (386.97 KB)
(Chinese Taiwan)

Apr 6, 2016
Royal Netherlands Institute of Chartered Accountants (NBA) (434.27 KB)
(Netherlands)

Apr 7, 2016
Compagnie Nationale des Commissaires aux Comptes (CNCC) (243.46 KB)
()

Apr 7, 2016
European Audit Regulators (EAIG) (188.71 KB)
()

Apr 12, 2016