The first global Ethics Standards on Tax Planning, launched by the IESBA in April 2024, become effective today.

The landmark standards are designed to provide a robust ethical framework to guide professional accountants when providing tax planning services or performing tax planning activities, thereby enabling them to make ethical judgments and decisions in this complex area.

Instead of relying solely on a technical or rules-based approach, professional accountants apply a principles-driven framework that offers consistent guidance for tax planning services or activities. This framework may also be followed by other tax practitioners who wish to adhere to a high ethical benchmark.

The objective of the framework is to help ensure that tax planning decisions take into account the public interest, including that they have a credible basis in laws and regulations and that they take into consideration the potential reputational, commercial, and broader economic consequences to which the tax planning arrangement could give rise.

Given the growing public scrutiny of certain tax avoidance practices which can undermine public trust in companies and damage reputations, these standards help accounting firms and tax practitioners by offering a sound ethical foundation for advising on tax planning. In doing so, they contribute to building public and institutional confidence in tax – an area that sits at the heart of the implicit social contract between individual and corporate taxpayers and the societies in which they live or operate.

“Today marks an important milestone for IESBA and the global accounting profession," said Gabriela Figueiredo Dias, IESBA Chair. "The Global Ethics Standards on Tax Planning provide a vital tool to help firms and professionals navigate the complex and often grey areas of tax planning, ensuring the public interest remains at the forefront. I commend all those who are leading the way by adopting or working towards the adoption of these standards”.

The IESBA is pleased to recognize and congratulate the following jurisdictions, which have already adopted the standards: Australia, Hong Kong SAR, Saudi Arabia, Singapore, and South Africa.

“The adoption of IESBA’s new global tax planning standards into the Australian Code constitutes a significant enhancement to the ethical framework governing the behavior of the accounting profession providing tax services in Australia, and upholds the paramount principle of serving the public interest.”

Nancy Milne OAM, Chair, Accounting Professional & Ethical Standards Board (APESB)

“At HKICPA, we uphold the public interest and professional integrity and are committed to proactively aligning with international benchmarks. Embracing the IESBA’s Tax Planning Standards strengthens trust in our profession and bolsters the credibility of our members and tax professionals as ethical, trusted advisors.”

Edward Au, President, Hong Kong Institute of Certified Public Accountants (HKICPA)

“As part of SOCPA’s commitment to serve the public interest and ensure harmony with the international professional and ethical standards, we adopted the Tax Planning standards as we found them providing additional clear guidance for professionals to act in accordance with the Ethical Requirements (approved IESBA Code of Ethics) in Saudi when dealing with complex tax issues.”

Dr. Ahmed bin Abdullah Al-Meghames, CEO, Saudi Organization for Chartered and Professional Accountants (SOCPA)

“ISCA is proud to be among the early adopters of IESBA’s Tax Planning and Related Services standards. The standards provide a clear, globally applicable ethical framework for professionals navigating complex tax issues, serving as a practical guide to help them comply with the IESBA’s Code of Ethics. This is a step forward in promoting responsible tax conduct and upholding the reputation of the profession.”

Ms. Fann Kor, CEO, Institute of Singapore Chartered Accountants (ISCA)

“We are proud to be among the first jurisdictions to adopt these standards, affirming our leadership in global ethics and governance. Harmonizing with the IESBA Code underscores our role as a forward-looking jurisdiction that supports transparency and global accountability.”

Imre Nagy, CEO, Independent Regulatory Board for Auditors (IRBA)

Other jurisdictions, such as India and Japan, are also making significant progress toward adopting, or actively considering adopting, the standards, which helps build momentum toward further alignment around a global ethical foundation and baseline for tax planning.

Implementation Support Resources

The IESBA encourages all professional accountants to familiarize themselves with the standards in order to uphold the profession’s commitment to ethical tax practices. Implementation support resources, including IESBA Staff Questions & Answers, can be accessed on the IESBA website.

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

At its June Board meeting, the International Ethics Standards Board for Accountants (IESBA) approved updates to its 2025-2026 Work Plan to better support ethical behavior and independent judgment in an increasingly volatile and uncertain environment.

Amid rapid shifts in financial markets, stakeholder expectations, and the regulatory landscape, the IESBA reaffirmed its commitment to strengthening the ethical foundations of accounting, business and finance.

“The current challenges require us to focus on what matters most: stronger ethical cultures, better support for global adoption of our standards, and a smarter, more responsive approach to our work,” said Gabriela Figueiredo Dias, IESBA Chair. “We’ve developed strong standards — now it’s time to focus on supporting their use in day-to-day decisions. The IESBA remains committed to helping professional accountants apply ethics in real-world contexts and to strengthening public trust where it’s needed most.”

The revised work plan reflects three key decisions:

1. A Resequenced Approach to the Firm Culture and Governance Project

Building on extensive stakeholder feedback and market analysis, IESBA remains firmly committed to taking decisive steps to address the cultural and governance dimensions at accounting firms that have implications for ethical behavior. Following up on the January 2025 landmark IESBA Firm Culture and Governance (FCG) Working Group Report, over the next 6 months the IESBA will develop a series of IESBA viewpoints on the eight elements of an FCG framework highlighted in the Working Group report, including ethical leadership, accountability, and incentives and rewards. At the same time, the IESBA will develop a plan for practical guidance and other initiatives in 2026 to help firms foster ethical culture and embed values that support long-term trust.

By mid-2026, informed by its further engagement with stakeholders on the viewpoints, the IESBA will consider the approach to the development of the FCG framework to guide firms’ cultural alignment and related governance practices, including consideration of the benefit of including the framework in the IESBA’s International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code).

This resequenced approach reflects the IESBA’s leadership role in responding to ethical gaps in practice and strengthening public trust and confidence in the accountancy profession, while recognizing that the current volatile and uncertain context calls for increased support to market participants.  This recognition is also reflected in the IESBA’s strategic decision to slow down the issuance of new standards, especially in light of the adoption and implementation efforts required for the significant ethics and independence standards recently issued, including on sustainability reporting and assurance, tax planning and related services, group audits, definition of a public interest entity, and technological transformations in the accounting, assurance and finance functions.

2. The Introduction of the SMART Strategic Framework

To enhance the clarity, impact, and coherence of its activities, the IESBA approved the SMART framework — a new stakeholder-centric strategic lens to guide its work, driving effective consistency and strategic alignment. SMART stands for:

• Simplification of processes and outputs;
• Mobilization of stakeholders to act with impact and purpose;
• Adoption support of the IESBA Code across jurisdictions;
• Responsiveness to stakeholders in the face of emerging risks and expectations; and
• Targeted Action by tailoring efforts and engagement to different stakeholders.

This framework translates the IESBA’s vision into an operational roadmap that will shape planning, communications, and coordination across projects.

3. Slowing the Pace of Standard-Setting: A Reinforced Focus on Stakeholder Engagement and on Adoption and Implementation

Recognizing that to be relevant and impactful, robust standards require real-world application to drive change, the IESBA is stepping up its support for jurisdictions and professionals adopting and implementing the Code. Therefore, the IESBA is slowing the pace of new standards to allow consolidation of recently issued standards, with no new significant standards to be issued before 2027. The updated plan places increased emphasis on:

• Tailored stakeholder outreach and engagement
• Dedicated mechanisms to address challenges in the implementation of the Code
• Post-implementation reviews of significant recent standards
• Development of non-authoritative and other supporting materials and initiatives to aid implementation and application of standards issued over the last few years
• Coordination with IFAC and other global bodies as well as jurisdictional standard setters to address adoption barriers and increase support for the adoption and implementation of the IESBA Code

The updated IESBA Work Plan 2025-2026 can be accessed here.

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

In several major jurisdictions, we are witnessing a pushback against regulation. Competitiveness has risen to the top of political agendas, driving calls for simplification, reduced oversight, and lighter regulation, against a backdrop of growing geopolitical tensions.

• The IESBA Ethics & Independence Conference 2025 will bring together international leaders in Lisbon to discuss global trends and explore how ethics and independence can anchor trust, resilience, and competitiveness amid uncertainty.
• Sessions will explore how the accounting profession, business leaders, and regulators are responding to global challenges, navigating regulatory shifts, embedding ethical culture, adapting to tech and AI, and reinforcing integrity in the fight against financial crime.
• The conference will feature influential voices from across business, accounting, finance, regulation, and standard setting, leading figures shaping the future of ethics, governance, and audit independence on the global stage.

The IESBA Ethics & Independence Conference 2025 will bring together global leaders this September in Lisbon to address some of the most urgent ethical and public interest questions facing business, the accounting profession, and financial markets. Under the theme “Ethics and Audit Independence: Pillars of Resilience and Competitiveness in Turbulent Times,” the conference will feature senior leaders from across business, regulation, and professional services exploring how ethics can anchor the accounting profession in an era of disruption and major business transformations.

Across the globe, businesses, firms, regulators, and investors, are navigating growing public demands for transparency and integrity and accelerating advances in technology, amidst shifting regulatory environments. In some jurisdictions, new pressures around competitiveness have led to delayed or scaled-back regulation and oversight, particularly in areas like sustainability reporting. Meanwhile, technology and AI are rapidly evolving beyond existing paradigms, and recent financial failures have exposed gaps in ethics and accountability. In this context, ethics and audit independence emerge not only as foundational safeguards, but as strategic tools to guide innovation, reduce risk, and reinforce public confidence.

IESBA Chair Gabriela Figueiredo Dias said:

“This conference comes at a time when ethical leadership has never been more critical. As regulatory frameworks shift, uncertainty grows and public scrutiny intensifies, we must reaffirm our leaders’ commitment to ethical values. Upholding ethics and the public interest is not optional; it is a strategic imperative. Ethics is not a barrier to innovation or competitiveness; it is the foundation for growth, sustainability, and trust. For the accounting profession operating in today’s volatile environment, it’s also the most powerful key to earning or keeping the license to operate.”

Registration for the conference is open. Participants will join global leaders in business, accounting, finance, regulation and standard setting for a high-impact, one-day event exploring how ethical leadership and independent judgment can drive progress and safeguard public trust.

Participants can expect insightful keynotes and panel discussions covering the evolving regulatory landscape, ethical culture, sustainability, artificial intelligence, and financial crime. The program will feature a spirited debate on the dynamics between ethics and innovation, as well as global perspectives from business and accounting firm leaders, regulators, standard setters, and subject-matter experts. The conference also offers valuable networking opportunities with peers and thought leaders shaping the future of the profession.

The conference features a distinguished group of already confirmed speakers, listed below in alphabetical order: Neil Acres (MSCI), Maria Luís Albuquerque (European Commission), Gabriela Figueiredo Dias (IESBA), João Duque (ISEG – Lisbon School of Economics and Management), Paula Franco ( OCC), Alan Johnson (IESBA and IAASB Stakeholder Advisory Council), Gilly Lord (PwC), Virgílio Macedo (OROC), Maggie McGhee (ACCA), Joaquim Miranda Sarmento (Government of Portugal), Jens Poll (Accountancy Europe), Panos Prodromides (CEAOB), José Ranito (European Public Prosecutor’s Office), Pascal Saint-Amans (University of Lausanne, formerly OECD), Tom Seidenstein (IAASB), Jean-Paul Servais (IOSCO), Nandini Sukumar (World Federation of Exchanges), Lee White (IFAC), and Megan Zietsman (Deloitte). Information on additional speakers will be available on the IESBA’s website.

The IESBA Ethics and Independence 2025 Conference is part of the IESBA September Board Meeting, which will take place in Lisbon at the ISEG – Lisbon School of Economics and Management Campus.

The conference benefits from the generous support of ISEG – Lisbon School of Economics and Management, as well as the two Portuguese Professional Accountancy Organizations: OCC – Ordem dos Contabilistas Certificados and OROC – Ordem dos Revisores Oficiais de Contas.

For the full program, updates, and registration, please visit: https://www.ethicsboard.org/iesba-conference-2025

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.