On Wednesday, November 20th, at 10:00 AM SST (Singapore) the International Ethics Standards Board for Accountants (IESBA), the ASEAN Federation of Accountants, and the Institute of Singapore Chartered Accountants will co-host a 90-minute webinar focusing on the key features of the International Code of Ethics for Professional Accountants.
Wednesday November 20, 2019 at 10:00 AM SST (Singapore Standard Time): Register now
During the webinar, the IESBA representatives will explain the Code’s new structure; as well as the substantive revisions, including enhancement to the conceptual framework and provisions relating to inducements, including gifts and hospitality; pressure; and preparing and presenting information. The webinar will also touch on the new Non-compliance with Laws and Regulation (NOCLAR) and revised Long Association provisions; as well as the IESBA’s new eCode which was launched in June 2019.
Effective since mid-June 2019, the Code reinforces professional accountants’ responsibility to comply with the five fundamental principles of ethics and emphasizes the International Independence Standards that apply in performing audits, reviews and other assurance engagements.
More information about the Code is available at the IESBA’s website.
To coordinate topics of mutual interests between the IAASB and IESBA, including in particular in relation to the development of the independent Boards strategy and work plans. The IAASB-IESBA Coordination representatives actively monitor the IAASB’s work to determine whether if it has implications for the Code.
The IESBA Coordination Team helps to develop the agenda for the annual IAASB-IESBA Joint Plenary Meeting, and as appropriate recommends conforming or consequential amendments for the Code as a result of the IAASB’s projects.
The IESBA has undertaken a project to review and compare the terms and concepts in the revised and restructured Code (specifically the International Independence Standards, Part 4B – Independence for Other Assurance Engagements Other than Audit and Review Engagements) and the IAASB’s ISAE 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical FinancialInformation.
Disruptive technologies have significantly impacted the work of accountants, including auditors and those in the finance and advisory fields, especially in terms of the technology and approaches they use. To address this, the IESBA had multiple technology-related workstreams from 2021 to 2022.
The objective of the IESBA’s Fees project is to review the provisions in the International Code of Ethics for Professional Accountants (including the International Independence Standards) (the Code) pertaining to fee-related matters. The project is responsive to a public interest need for IESBA to deal with fee-related matters, including those that impact or are perceived to impact auditor independence – both independence of mind and independence in appearance.
The objective of the IESBA’s Non-assurance Services (NAS) project is to is to ensure that all the NAS provisions in the Code are robust and of high quality for global application, thereby increasing confidence in the independence of audit firms. The project scope will encompass the International Independence Standards related to the provision of NAS to audit clients.
