Professor Jens Poll became a member of the International Ethics Standards Board for Accountants (IESBA) in January 2018 and retired from the Board in 2023. He was nominated by the Wirtschaftsprüferkammer (WPK) and the Institut der Wirtschaftsprüfer (IDW).

He serves as Non-Executive Director and Audit Committee Chair in several medium-sized companies with global activities. He also teaches law and regulation at the University of Ulm and is, inter alia, Chair of the Commission on Quality Assurance at WPK and member of several committees of the IDW. He served as Managing Partner of a medium-sized accountancy and law firm for 20 years.

On an international level, he presently serves as independent Chair of the European Group of International Accounting Networks and Associations (EGIAN) and is board member of Accountancy Europe. He was a member and Vice Chair of the IFAC Small and Medium Practices Committee and Technical Advisor for a former IESBA member.

Professor Poll holds professional degrees as public accountant, lawyer and tax advisor in Germany.

Dr. Stavros B. Thomadakis was appointed independent Chairman of the International Ethics Standards Board for Accountants beginning January 1, 2015.

Dr. Thomadakis is Emeritus Professor of financial economics at the University of Athens. For many years, he directed the University’s graduate program on applied finance, accounting and auditing, in cooperation with the Hellenic Institute of Chartered Accountants (IESOEL).

His research interests extend to issues of market regulation, standard setting, and other infrastructures for the governance of global markets, corporate governance in the private and public sectors, financial history, and the evolution of regulatory arrangements for markets and banks.

He was Chairman of the Hellenic Capital Market Commission during the formative stages of the organization (1996-2004). He also chaired the IOSCO European Regional Committee during his tenure, and was the first Chairman of the Public Interest Oversight Board (PIOB, 2005-2011), which oversees the activities of the IESBA and other standard setters.

Dr. Thomadakis has been Chairman of the Board of the University of the Aegean and is an active member of the Hellenic Council for Corporate Governance. Until late 2015, he was also member of the Securities and Markets Stakeholders Group of the European Securities and Markets Authority (ESMA).

He was educated at Yale and the Sloan School of Management, (MIT) from where he obtained his PhD. He has taught at US universities (Baruch College CUNY, MIT), and has been a visiting scholar at Stern School of Business, NYU, and Yale University. He has authored a number of scholarly books and articles.

• Interview in IS Chartered Accountant (November 2015)

Caroline Lee became a member of the International Ethics Standards Board for Accountants (IESBA) in January 2017. She was nominated by KPMG LLP, the Singapore registered member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee (KPMG International).

Ms. Lee has over 30 years experience in the public accountancy profession, all with KPMG. She is a Partner at KPMG in Singapore and Asia Pacific Head of Quality & Risk Management. She is also a member of KPMG International's Global Quality & Risk Management Steering Group. Previously, she led the Risk Management and Ethics and Independence teams for KPMG in Singapore.

Ms. Lee is also a member of the Singapore Public Accountants Oversight Committee’s Ethics Committee since April 2019.

Ms. Lee is a Chartered Accountant and ISCA member. She has a Bachelor of Accountancy degree from the National University of Singapore.

El Dr. Stavros B. Thomadakis ha sido nombrado presidente del Consejo de Normas Internacionales de Ética para Contadores^® (IESBA^®, el Consejo de Ética), iniciando en enero 1, 2015 para un periodo de tres años. El nombramiento del Dr. Thomadakis ha sido aprobado por el Consejo de Supervisión del Interés Público* (PIOB).

La carrera profesional del Dr. Thomadakis incluye 40 años como profesor de economía financiera en la universidad de Atenas, la universidad City University de Nueva York y MIT, al igual que diferentes roles regulatorios y de supervisión. Stavros presenta familiaridad con el Consejo de Ética bajo la capacidad de supervisión, ya que laboró como primer presidente del PIOB de 2005 a 2011. Es miembro actual del Grupo de Stakeholders de los Mercados de Valores de la Autoridad Europea del Mercado de Valores.  Adicionalmente, ha presidido la Comisión de Mercado de Capitales de Grecia y el Comité Regional Europeo de la Organización Internacional de las Comisiones de Valores; es actualmente presidente del Consejo de la Universidad del Egeo.

Como presidente del Consejo de Ética, el Dr. Thomadakis liderará al Consejo en la implementación de su Estrategia y Plan de Trabajo, 2014-2018 recién publicada (ver más abajo). Una función clave del presidente es permitir y promover un entendimiento más profundo de las partes interesadas y el público sobre la estrategia y las actividades del Consejo de Ética. El presidente coordina igualmente los procesos deliberativos y consultativos del consejo; adicionalmente, desarrolla y mantiene relaciones efectivas con los reguladores, el preparador, el inversor y las comunidades de gobierno corporativo, los emisores de estándares nacionales, la profesión contable y otras partes interesadas claves.

"Los estándares de ética son una base de confianza en la profesión contable y son esenciales para cumplir con la responsabilidad de actuar en el interés público. Es un honor liderar el trabajo del Consejo de Ética. Ansío progresar en la agenda del Consejo y, particularmente, continuar con el programa extendido de participación iniciado por el presidente anterior, Jörgen Holmquist, cuya dedicación y liderazgo no serán olvidados," comentó el señor Thomadakis.

El Consejo de Ética emitió igualmente su Estrategia y Plan de Trabajo, 2014-2018. La publicación resalta las prioridades del consejo y las acciones planeadas para lograr el objetivo de la definición de estándares de ética de alta calidad para contadores profesionales que han sido ampliamente adoptados alrededor del mundo.

La Estrategia y Plan de Trabajo dispone temas estratégicos interconectados que articulan la visión del Consejo en el mediano y largo plazo:

• mantener un Código de Ética para Contadores Profesionales™ (el Código) de alta calidad para aplicación de los contadores profesionales a nivel global;
• promover y facilitar la adopción y la implementación efectiva del Código;
• desarrollar el Código para una relevancia continuada en un entorno global cambiante; y
• aumentar el compromiso y la cooperación con las partes interesadas.

"El Código ha sido adoptado o utilizado como base para los estándares de ética nacionales en más de 100 territorios alrededor del mundo. El fortalecimiento continuado del Código y el objetivo de dirigirnos hacia una mayor aceptación y convergencia global con el Código, es el punto fundamental de nuestra Estrategia y Plan de Trabajo a cinco años," resaltó el presidente delegado Wui San Kwok, agregando "lo más importante es que el Consejo está determinado, a través de la Estrategia y Plan de Trabajo, a reforzar la confianza pública en el Código y garantizar que continúa siendo relevante en el apoyo de diferentes roles vitales que desempeñan los contadores profesionales en el interés público."

La Estrategia y Plan de Trabajo fue desarrollado con aportes de un amplio rango de partes interesadas, incluyendo una encuesta de partes interesadas y un Documento de Consulta pública.

Para acceder a toda la Estrategia y Plan de Trabajo y conocer más acerca de los proyectos del Consejo, visitar la página web del Consejo de Ética: www.ethicsboard.org.

*Nota a los Editores

El Consejo de Supervisión del Interés Público (PIOB) fue establecido en febrero de 2005 a fin de garantizar que los estándares internacionales de auditoría y aseguramiento, ética y educación para la profesión contable sean definidos de manera transparente, reflejando el interés público. El objetivo del PIOB es potenciar la confianza de los inversores y demás, estableciendo que dichas actividades, incluyendo la definición de estándares del IESBA, responden adecuadamente al interés público. Los miembros del PIOB son nominados por instituciones internacionales y entes regulatorios.

Acerca del IESBA
El Consejo de Normas Internacionales de Ética para Contadores (IESBA) es un consejo independiente de emisión de normas que desarrolla y emite -en el interés público- normas de ética de alta calidad y demás declaraciones para los contadores profesionales alrededor del mundo. A través de sus actividades, el IESBA desarrolla el Código de Ética para Contadores Profesionales, el cual establece los requerimientos éticos para contadores profesionales. Las estructuras y los procesos que soportan las operaciones del IESBA son facilitados por la IFAC. Visita la página www.ethicsboard.org para mayor información, y síguenos en Twitter @Ethics_Board.

Acerca de la IFAC^®
IFAC es la organización global para la profesión contable, dedicada a servir el interés público a través del fortalecimiento de la profesión y contribuir en el desarrollo de economías internacionales sólidas. La IFAC se compone de 179 miembros y asociados en 130 países y territorios, representando aproximadamente a 2,5 millones de contadores en la práctica pública, la educación, el gobierno, la industria y el comercio.

Caroline Gardner is the Auditor General for Scotland and has been a public member of International Ethics Standards Board for Accountants (IESBA, the Ethics Board) since 2010.

What made you interested in serving on the Ethics Board?

CG: I was serving as the president of CIPFA [The Chartered Institute of Public Finance and Accountants], in 2006 when we adopted the IESBA’s Code of Ethics for Professional Accountants [the Code]. As president, I had the opportunity to lead our adoption of the code and to talk with many of our members about why ethics matters. I’ve had a particular interest in ethics since then.

What particular perspectives or experiences do you bring to the board as a public member?

CG: As a public member, I’m even more aware of the importance of making sure the board’s decisions, and the implications of the board’s decisions, truly further the public interest as much as possible. Because I’ve worked in public service for most of my career and I currently serve as Auditor General for Scotland, I have a very clear sense of the importance of ethics in government and public services. I understand the way decisions are made and that the perception of good ethical conduct is very important. I try to bring that perspective, keeping that sense of the public interest first and foremost, into my work both with the board and as Auditor General.

Since you became a member, how has your view of the Ethics Board and its work changed? Has serving on IESBA been what you expected?

CG: I’d highlight two changes since joining the board in 2010. First of all, the aftermath of the global financial crisis, and various other corporate failures, has heightened my sense of the importance of ethics. What they show is the damage that can be done, not just to the investors in those companies, but more widely.

Second, it’s become clear to me that the public interest isn’t a straightforward thing. Good ethical conduct is often very complex and can sometimes require difficult tradeoffs. For example, I am currently chairing the task force that is addressing what professional accountants should do if they come across a suspected illegal act [now called non-compliance with laws and regulations, or NOCLAR]. In these situations, professional accountants are put in a very difficult position—trying to balance the fundamental principles, particularly confidentiality in this case, with serving the wider public interest by reporting a potentially illegal act—and it’s not always clear which action is the right one. This project has shown me that professional accountants are often faced with very complex decisions, which they do not take lightly, and they need support in making the best decision they can.

A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. What does this mean to you?

CG: As professional accountants we need to recognize that we are required to really think through the consequences of our professional conduct and decisions, not just for ourselves and our own financial interests or those of our colleagues or employer, but much more widely than that. We have to consider who else might be affected by our decisions. And, depending on what role we play as professional accountants that group may vary. It could well include the investing public, the suppliers and customers of the companies that we work for, or the wider, general public when we talk about accountants in health and safety or employment practice. Holding that very broad frame of reference in mind, and considering the effects our actions will have, is very much a part of the challenge of what it means to act in the public interest. It’s also a key part of what makes us valuable as a profession—to be trusted to take that wider perspective, and not just think about our own immediate personal or professional interests.

What pressures or challenges do accounting professionals face today in terms of acting ethically?

CG: I think the real challenges come from two pervasive factors that we all have to deal with: First, the world that we’re operating in continues to become more and more complex, and we need to look at some of the complex judgments and strategic decisions that auditors and professional accountants have to make every day. Technology and environmental considerations are some of the drivers of this complexity that are making it more difficult to ensure that we’re acting ethically. For instance, we might be able to make profits from manufacturing goods in the short term, but they will have a damaging effect on the environment in the long term, so emissions and overall carbon footprint are the sort of things we have to take into consideration, in addition to the financial.

Second, I think that in the wake of the financial crisis, the public and regulatory expectations of the profession are continuing to increase. Things that were considered acceptable in the past are no longer seen as acceptable. And when things go wrong, people are more and more likely to ask questions about what the professional accountant or the auditor is doing. I think this raises the stakes for acting ethically at all times. At the same time as I said before, our complex environment means that ethical dilemmas are becoming more prevalent, so making the most ethical decision is becoming more challenging.

What do you see as the key factors influencing the development of global ethics standards in the future?

CG: I think the biggest challenge for us is to first of all not just respond to but lead the way in meeting public expectations for where the ethics of the profession ought to be—that expectation for greater transparency and a greater willingness to put personal/professional interests to one side in the name of the public interest, and to do that in a world where there is still a great deal of difference between the local legislative, regulatory, and cultural environments.

Again, if I think about the project that I’m working on [NOCLAR], there are huge differences from country to country. Some jurisdictions are already very clear on the requirement to report breaches of laws and regulations to the appropriate authority, and it’s very straightforward in that sort of environment. But in other jurisdictions where the laws are not clear on this issue or where people don’t have confidence that the existing laws will work properly or that whistleblowers will be properly protected, it’s much more difficult for the board to play its part.

So I think the challenge is seeing the Code as part of a wider system of laws and regulations, and developing it in a way that is really leading expectations of ethical conduct while recognizing that it can’t be a substitute for an effective legal and regulatory framework, good judicial processes, and a culture where ethical behavior is expected. It’s a fine balance for us to get right.

Earlier this year, we had three very successful global roundtables on non-compliance with laws and regulations to get additional input from various key stakeholders, such as regulatory bodies like the IOSCO, the investing community, and the international corporate governance network. This sort of outreach is critical to helping us understand the various environments and may set a new precedent for our standard-setting activity in the future.

About the “We Are IESBA” Series
The purpose of this series is to bring the work of the IESBA to life, adding context and color to the people who carry out the activity of ethics standard setting for the international accountancy profession. The series aims to further increase the transparency of the board’s activities. Transparency is written into the board’s due process, and indeed, into its operations. The IESBA’s agenda papers and meetings are public (you can register to attend and observe any meeting, or listen to meetings and summaries via our iTunes channel). To learn more about the board, follow along via Twitter and email: Follow @Ethics_Board and subscribe to IESBA eNews. For additional developments related to ethics and other areas of the profession, subscribe to topics from the Global Knowledge Gateway.

Now there are more ways to access the Code of Ethics for Professional Accountants™ (the Code) developed by the International Ethics Standards Board for Accountants^® (IESBA^®, the Ethics Board). The newly released, web-based 2014 Code is designed to provide enhanced access and greater ease of use and navigation.

“Digital is now the preferred medium of communication. It is also how the tech-savvy world today will want to access and use the wealth of materials produced by the board. The board intends to move with the times, technologically,” said interim IESBA Chair Wui San Kwok. “The board will continue to look at ways to utilize the immense technological possibilities in making the Code and other board materials more accessible and usable, including enhancing research, link, and filter functionalities.”

Key features of the web-based Code include the ability to:

• Find relevant pages and sections using a powerful keyword search;
• Display definitions of key terms within the text;  
• Navigate sequentially or by using the interactive table of contents; and
• Access previous editions and links to translations, most of which are hosted on third-party sites.

Related to the new platform, the IESBA is currently consulting on ways to improve the structure and delivery of the Code. Additional features may be incorporated into the platform in the future. See the Consultation Paper released earlier this month, and submit your comments by February 4, 2015.

Users can continue to purchase print copies of the Code, or download or print it from the Ethics Board’s website: www.ethicsboard.org.  

About the IESBA
The IESBA develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The International Ethics Standards Board for Accountants^® (IESBA^®, the Ethics Board) today released for public comment the Exposure Draft (ED), Proposed Changes to Part C of the Code Addressing Presentation of Information and Pressure to Breach the Fundamental Principles. The proposals respond to the need for more robust and practical guidance to help professional accountants in business (PAIBs) deal with two matters on which they most often seek assistance in practice: their responsibility to produce financial reports that are faithful representations of the economics of transactions, and pressure to breach fundamental ethical principles.

“PAIBs play an important role in the financial reporting supply chain, and they may encounter pressure to act unethically. The proposed guidance will help them understand what their options are, and therefore better support them in fulfilling their responsibility to act in the public interest,” said interim IESBA Chair Wui San Kwok. “The proposal also clarifies that when preparing financial information, exercising discretion—for example, when selecting an accounting method—in a manner that is intended to mislead is not acceptable.

Among the proposed changes are:

• Fuller and more explicit guidance regarding PAIBs’ responsibilities when presenting information;
• Strengthened guidance on how a PAIB can disassociate from misleading information;
• An expanded description of pressure that may lead to a breach of the fundamental principles in the Code of Ethics for Professional Accountants™ (the Code) together with practical examples to illustrate different kinds of situations in which such pressure may arise; and
• New guidance to assist PAIBs in identifying and responding to pressure that could result in a breach of the fundamental principles.

The Ethics Board is also proposing a number of related changes to other areas within Part C of the Code.

“The development of this enhanced guidance reflects a rebalancing of the board’s focus to be more inclusive of PAIBs, a very large and important part of the accountancy profession,” noted IESBA Technical Director Ken Siong. “It will serve to remind PAIBs of some of the fundamental ethical principles by which they should be guided in their different roles within their organizations, and with which they must comply.”

How to Comment
The Ethics Board invites all those with an interest in international ethics standards for the accountancy profession to respond to the Exposure Draft. To access the ED and submit a comment, please visit the Ethics Board’s website at www.ethicsboard.org. Comments are requested by April 15, 2015. The Ethics Board encourages national and regional professional accountancy organizations to share the ED and encourage participation from their members and employees.

About the IESBA
The IESBA develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

About IFAC^®
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The report provides a summary of the Ethics Board’s 2013 achievements and includes developments on key projects and initiatives that have continued to progress throughout 2014. In particular, it highlights the board’s extensive efforts in reaching out to stakeholders, and the developments of the board that centered on building public trust in both the profession and the IESBA’s Code of Ethics for Professional Accountants (the Code).

The International Ethics Standards Board for Accountants^® (IESBA^®, the Ethics Board) today released its 2013 Annual Report, Reinforcing Trust in the Profession.

The report provides a summary of the Ethics Board’s 2013 achievements and includes developments on key projects and initiatives that have continued to progress throughout 2014. In particular, it highlights the board’s extensive efforts in reaching out to stakeholders, and the developments of the board that centered on building public trust in both the profession and the IESBA’s Code of Ethics for Professional Accountants (the Code).

The 2013 Annual Report pays tribute to the board’s late chair Jörgen Holmquist and includes a number of key messages that he had expressly wished to convey prior to his passing in March 2014, including the importance of maintaining the board’s focus on setting principles-based standards that are globally operable.

“Ethics is the foundation on which public trust in the accounting profession is built. For this reason, the ethics standards in the Code play a critical role in supporting professional accountants globally in fulfillment of their responsibility to act in the public interest,” said Wui San Kwok, interim IESBA chair. “The board, under Jörgen’s leadership, made significant strides in 2013 in advancing its technical agenda to ensure that the Code remains a set of high-quality, globally accepted ethics standards, and in forging broader and deeper relationships with its constituencies through its outreach program. The board is committed to continuing this momentum, including promoting the Code and its widespread adoption.”

The Annual Report includes a report from Kristian Koktvedgaard, the chair of the IESBA’s Consultative Advisory Group (CAG), which outlines the technical and strategic input the CAG provided to the Ethics Board on its work program initiatives during the year.

To access and download the 2013 IESBA Annual Report, visit www.ethicsboard.org.

About the IESBA
The IESBA develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

About IFAC^®
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.