Africa is a source of growth, innovation, and opportunity, and the accountancy profession is rising to meet the moment. This week in Nairobi, IFAC Connect^TM Africa 2025 brings together public and private sector leaders, regulators, standard setters, and professional accountancy organizations to accelerate a shared vision for sustainable development across the continent.  

Convened by the International Federation of Accountants (IFAC) and co-hosted with the Pan African Federation of Accountants (PAFA) and the Institute of Certified Public Accountants of Kenya (ICPAK), IFAC Connect Africa 2025 launches the second annual IFAC Connect series, designed to ensure international standards and best practices support local solutions. As Africa advances its economic and institutional development, the continent faces both opportunities and challenges across several critical fronts. Navigating these interconnected issues requires coordinated leadership and dialogue across the public and private sectors. IFAC Connect Africa 2025 offers a platform for regional and international leaders to convert insights into action—strengthening trust in institutions, reinforcing the role of professional accountancy organizations and their members, and ensuring the continent is well-positioned to meet the expectations of financial markets, investors, and its citizens. 

As Africa accelerates its transformation, the accountancy profession is central to strengthening governance, advancing sustainability, building talent, enabling regional integration, and fighting financial crime. Over two days, leaders will focus on turning global standards and shared priorities into practical, locally relevant action across both public and private sectors.  

Lee White, IFAC Chief Executive Officer, said: 

“Regional professional accounting leadership is driving economic growth and resilience. With our valued members and partners in Africa, we are all striving for common goals of the use of global standards shaped within local and regional conditions in the public interest. I am privileged to work with many talented colleagues in Africa and we will continue to find opportunities to grow and shape our trusted profession. We are Better Together.” 

Prem Govender, PAFA Vice President, said:  

“Africa’s accountancy profession is stepping forward to shape the continent’s future. This collaboration with IFAC and ICPAK reflects our shared vision of a profession that is inclusive, future-focused, and essential to Africa’s sustainable development.” 

IFAC’s longstanding partnership with PAFA is central to its work in Africa and reflects a shared commitment to strengthening the profession’s capacity to serve the public interest, drive economic transformation, and meet global expectations. From supporting PAFA’s establishment to co-developing strategic initiatives across the continent, IFAC has worked closely with PAFA to amplify Africa’s voice in the global accountancy ecosystem. The two organizations collaborate to align regional priorities with international standards, optimize resources, and ensure consistent, trusted messaging across the profession. IFAC Connect Africa 2025 builds on this strong foundation and serves as the next chapter in a shared effort to deliver global solutions that reflect and respond to Africa’s unique opportunities and realities. 

Prof. Elizabeth Kalunda, Chair, ICPAK: 

“Hosting IFAC Connect Africa 2025 in Nairobi underscores Kenya’s commitment to regional leadership in the profession. Together with IFAC and PAFA, we are driving a transformative agenda grounded in accountability, transparency, and innovation. This event is an opportunity to chart a path that responds to Africa’s needs while contributing meaningfully to the global conversation.” 

Following IFAC Connect Africa 2025, ICPAK will host its Member Practice Forum, featuring a keynote address by Lee White. 

IFAC Connect Africa 2025 is the first of four IFAC Connect events this year followed by MENA in Riyadh in October, Global 2025 in Mexico City in November, and ASIAPAC in Jakarta in December. 

About IFAC  

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.     

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.     

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.     

About PAFA  

PAFA is an IFAC Network Partner and Regional Organization, representing the accountancy profession in Africa. PAFA has 57 member organizations in 47 countries in Africa and five international affiliates. PAFA’s vision is sustainable value creation for the citizens of Africa. This is achieved by strengthening the capacity and influence of the accountancy profession to enhance trade, the quality of services, and trust in institutions.  

About ICPAK 

The Institute of Certified Public Accountants of Kenya (ICPAK) is the statutory body of Accountants established by the Accountants Act CAP 531.The Institute is also a member of the Pan Africa Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC), the global umbrella body for the accountancy profession. 

The International Federation of Accountants (IFAC) welcomes the appointment of Julia Rendschmidt as the new Executive Director of the International Forum of Independent Audit Regulators (IFIAR), effective 1 October. IFAC also extends its sincere thanks to Delon Abrams for his dedication and leadership while serving as Acting Executive Director over the past several months.

Lee White, Chief Executive Officer of IFAC, said:

“On behalf of IFAC and the global accountancy profession, I warmly congratulate Julia on her appointment. Her proven leadership, deep regulatory expertise, and strong commitment to audit quality will serve IFIAR well as it continues its important mission to strengthen audit oversight and public trust. We look forward to working closely with Julia in this next chapter for IFIAR.

I also want to express my gratitude to Delon for his steady stewardship during the transition. His commitment and professionalism ensured IFIAR remained on course and operating effectively, and we thank him for his service”.

Ms. Rendschmidt currently serves as Head of Division for EU and International Affairs with the German Auditor Oversight Body (AOB), where she has played a key role as a national regulator. She also represents Germany at board level within IFIAR and at plenary level on the Committee of European Auditing Oversight Bodies (CEAOB).

“Julia will no doubt build on IFIAR’s success to date and advance its work to enhance audit quality and contribute to the stability of the global financial system. I have had the pleasure of working with Julia in audit oversight and regulation in the past, and I look forward to renewing our constructive and collaborative relationship in her new role”, Mr. White added.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The IAASB has released two new resources to further support jurisdictions and stakeholders in adopting and implementing the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.

1. Extracts from ISSA 5000 for Limited and Reasonable Assurance Engagements

In response to stakeholder requests, the IAASB has prepared reference extracts containing only the material in ISSA 5000 relevant to limited assurance engagements and, separately, reasonable assurance engagements. These extracts are designed to help regulators, standard setters, and other stakeholders more easily identify the requirements and application material most relevant to their jurisdictional decisions. They do not amend or override ISSA 5000, the authoritative text of which remains the full standard.

2. Frequently Asked Questions (FAQ) Document on ISAE 3000 (Revised) and ISAE 3410

The IAASB has published FAQs clarifying that, for jurisdictions adopting IAASB standards, ISAE 3000 (Revised) and ISAE 3410 will no longer apply to sustainability assurance engagements once ISSA 5000 becomes effective in December 2026. These FAQs aim to support a smooth transition and consistent application of the new standard.

In addition, the IAASB has updated the adoption information on its website, reflecting the growing global momentum toward adoption of ISSA 5000.

Together with previously published materials, these publications underscore the IAASB’s commitment to supporting adoption and implementation of ISSA 5000 and fostering high-quality, globally consistent sustainability assurance practices.

Access the extracts, FAQs, and adoption information, as well as previously published materials, on the IAASB website here.

The International Public Sector Accounting Standards Board (IPSASB®), developer of IPSAS® Accounting Standards, international accrual-based accounting standards for use by governments and other public sector entities around the world, has issued Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement. 

IPSAS 46, Measurement introduced a new measurement basis for the public sector called current operational value, a public sector-specific measurement approach designed to reflect the value of assets used to deliver services, rather than to generate cash. Following its release, along with an update to Chapter 7 of the Conceptual Framework, the IPSASB began reviewing how current operational value could apply across existing IPSAS Standards. 

The IPSASB issued a draft of its proposals in August 2024 and incorporated the stakeholder feedback it received to shape the final standard out today. 

“These changes aim to improve how governments and public sector entities report the value of assets they use to deliver services. The pronouncement offers an integrated approach to valuation, guiding entities in measuring the current value of inventories and determining impairment in the public sector,” said Ian Carruthers, IPSASB Chair. “These amendments give public sector financial statement users more relevant, faithfully representative measurement information through broader application of public sector specific measurement guidance.” 

The amendments include the introduction of current operational value in IPSAS 12, Inventories, and IPSAS 21, Impairment Non-Cash Generating Assets, the addition of a definition of accounting estimates to IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors, and the enhancement of the terminology in current value measurement disclosures. 

Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement has an effective date of January 1, 2028. Earlier application is permitted. 

About the IPSASB 
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards (IPSAS Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC®). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org. 

About the Public Interest Committee 
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information. 

• Private equity (PE) investment in accounting firms has grown significantly over the past five years in a number of major jurisdictions
• Private equity investment in accounting firms may trigger ethical and independence implications as a result of related structural, strategic and operational changes to a firm
• Staff Alert aims to raise awareness and foster understanding of key ethical and independence matters for accounting firm leadership to consider, both pre- and post-PE investment

A Staff Alert highlighting key ethical matters that accounting firms should pay particular attention to when considering or accepting investment from PE organizations has today been issued by the International Ethics Standards Board for Accountants (IESBA).

Titled  “Private Equity Investment in Accounting Firms: Key Ethics and Independence Considerations”, the Staff Alert draws the attention of professional accountants in public practice, particularly accounting firm leadership, to important ethics and independence provisions in the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) that remain applicable both before and after PE investment in an accounting firm. The Staff Alert highlights various possible ethical and independence implications arising from PE investment in accounting firms.

These include:

• From an ethics perspective:
  • threats to compliance with some of the Code’s fundamental principles, such as confidentiality;
  • shifts in a firm’s ethical culture resulting from organizational restructurings, different incentives and evolving growth expectations that may undermine ethical obligations; or
  •  undue pressure to act unethically in pursuit of new revenue goals.
• From an independence perspective:
  • concerns arising from a PE organization holding a controlling interest in the firm while also having a financial interest in the firm’s audit clients;
  • the inclusion of new entities as network firms and the complexities in identifying them, and potential related independence threats, if the firm becomes part of a larger, evolving post-investment structure; or
  • situations where individuals in the PE organization’s management could fall within the Code’s “audit team” concept and the applicable independence framework.

The Staff Alert emphasizes the importance of firms maintaining ongoing monitoring for changes in clients, services, business and network relationships, and other relevant factors with potential ethics and independence implications, both during the pre-investment phase and after completion of the PE transaction, and continuing to act in the public interest.

It also underscores in the context of PE investment that compliance with the Code by firms enhances the quality and consistency of the services they provide and underpins public trust and confidence in their work.

Besides accounting firms, this publication may also be of interest to regulators and audit oversight bodies, jurisdictional standard setters (JSS), private equity entities and other investors, professional accountancy organizations (PAOs), and others with an interest or role in the work of accounting firms.

The development of the Staff Alert has been informed by the IESBA’s ongoing engagement with various stakeholders, including accounting firms, private equity organizations, regulators and oversight bodies, JSS, and PAOs.

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.

Media Contacts:
 
Rui Peres Jorge 
Director of Strategic Communications 
International Ethics Standards Board for Accountants (IESBA) 
ruiperesjorge@ethicsboard.org | Direct: +351 966-301-383

David Johnson 
Senior Manager
IESBA Communications
davidjohnson@ethicsboard.org | Direct: +1 (212) 471-8732

The Staff of the International Ethics Standards Board for Accountants (IESBA) has released two implementation support publications to help sustainability assurance practitioners understand and apply the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA):

• Key Differences: A comparison document outlining the main differences between the IESSA and the corresponding provisions of the IESBA Code applicable to audits of financial statement.
• List of PIE Prohibitions: A list of specific prohibitions in the IESSA applicable to sustainability assurance engagements of public interest entities (PIEs).

The Key Differences Between IESSA and Parts 1 to 4A of the Code provides an overview of how the IESSA compares to the ethics and independence provisions in the IESBA Code that apply to audits of financial statements. It is intended to support firms that already follow the Code in understanding and implementing the IESSA for sustainability assurance engagements. For reference purposes, the publication is accompanied by a marked-up version of the IESSA showing changes from the corresponding sections of the extant Code.

The List of Prohibitions for PIEs in IESSA summarizes the specific interests, relationships, non-assurance services and other circumstances prohibited under the IESSA when performing sustainability assurance engagements for PIEs. It is intended as a high-level reference to help sustainability assurance practitioners in further understanding the prohibitions in the IESSA.

Jurisdictional standard setters, regulators and oversight bodies, professional accountancy organizations, educational institutions and other stakeholders may also find the publications useful.

These new resources are part of a comprehensive implementation support program the IESBA has put in place—a strategic priority aimed at promoting the adoption and consistent and effective implementation of the IESSA, which becomes effective in December 2026. Led by a dedicated Adoption and Implementation Working Group, this effort includes a growing suite of guidance materials, webinars, and other resources to back the rollout of the Global Ethics Sustainability Standards.

Read the publications on IESBA’s Support and Resources Page
Visit the IESBA Sustainability Focus Page
 

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.

• Mais de 300 participantes já inscritos, incluindo mais de 100 participantes presenciais oriundos de 28 jurisdições e 6 continentes, para o encontro em Lisboa de líderes globais do setor financeiro
• Programa atualizado inclui novas sessões sobre Confiança e Transparência nos Mercados de Capitais e o Crescimento do Private Equity nos Serviços de Contabilidade e Auditoria
• Mais de 20 oradores confirmados, incluindo reguladores, investidores, standard setters e líderes empresariais

O International Ethics Standards Board for Accountants (IESBA) anunciou hoje o programa atualizado da sua Conferência International 2025 sobre Ética e Independência, que se realiza a 15 de setembro de 2025, focado nos desafios éticos mais prementes que se colocam à profissão contabilística e ao mundo empresarial global.

Os oradores principais incluem Maria Luís Albuquerque, Comissária Europeia para os Serviços Financeiros e para a União da Poupança e dos Investimentos, Jean-Paul Servais, Presidente da IOSCO, e Joaquim Miranda Sarmento, Ministro de Estado e das Finanças de Portugal. Juntam-se a um prestigiado painel com mais de 20 especialistas e líderes internacionais.

A participação é gratuita, mas os lugares são limitados à capacidade do local.

O programa completo, as atualizações mais recentes e o formulário de inscrição estão disponíveis em: https://www.ethicsboard.org/iesba-conference-2025

Sob o tema “Ética e Independência na Auditoria: Pilares de Resiliência e Competitividade em Tempos de Incerteza”, a conferência reunirá reguladores, investidores, standard setters, firmas de contabilidade e auditoria e líderes profissionais e empresariais. O objetivo é analisar o papel central da ética na preservação da confiança e estabilidade, bem como no apoio à inovação num contexto de disrupção.

Destaques do programa incluem:

• Seis sessões temáticas dedicadas a áreas como alterações regulatórias com impacto nas atividades de auditoria e contabilidade e nos mercados de capitais, cultura e governação nas empresas de auditoria e contabilidade, desenvolvimentos relacionados com a informação de sustentabilidade, ética em planeamento fiscal e o papel dos profissionais de contabilidade e auditoria no combate ao crime financeiro;
• Painéis dedicados ao impacto da disrupção tecnológica, da inteligência artificial e do investimento de private equity nas firmas de auditoria e contabilidade, com análise das respetivas implicações éticas na transformação do setor;
• Uma lista global de oradores com mais de 20 vozes de referência nos mercados de capitais, sociedades de contabilidade e auditoria, autoridades reguladoras e instituições internacionais, incluindo os oradores principais.

Num momento em que a pressão regulatória evolui e a inovação acelera, a conferência oferece uma oportunidade para explorar o papel das práticas éticas e regras de independência  no reforço da competitividade, resiliência e confiança dos cidadãos e investidores nos setores da contabilidade e auditoria, nos mercados financeiros e na economia.

Esta  é a primeira conferência internacional dedicada à ética e à independência em serviços financeiros organizada pelo IESBA, refletindo o compromisso do Board com a promoção do diálogo com os seus stakeholders a nível internacional. Igualmente, visa contribuir para a adoção dos seus standards, consagrados no seu código internacional de ética de independência — um benchmark já adotado, utilizado ou usado como referência em mais de 130 jurisdições em todo o mundo.

A Conferência IESBA 2025 marca também o início da reunião do board do IESBA de setembro, que terá lugar em Lisboa, no campus do ISEG – Lisbon School of Economics and Management.

O evento conta com o apoio generoso do ISEG – Lisbon School of Economics and Management, bem como das duas organizações profissionais portuguesas do setor: a OCC – Ordem dos Contabilistas Certificados e a OROC – Ordem dos Revisores Oficiais de Contas.

Estes apoios são críticos para permitir a realização da conferência em Lisboa, evidenciando a associação destas organizações ao propósito desta iniciativa do IESBA de dinamização do diálogo internacional, ao mais alto nível, sobre temas de grande atualidade para o setor da contabilidade e auditoria, os mercados financeiros e a economia.

Sobre o IESBA

O International Ethics Standards Board for Accountants (IESBA) é um organismo independente de definição de normas internacionais. A sua missão é servir o interesse público através da definição de standards éticos internacionais de elevada qualidade (incluindo normas sobre independência), como base para o comportamento ético nos negócios e nas organizações, e para a confiança pública na informação financeira e não financeira — essencial ao funcionamento e sustentabilidade das organizações, dos mercados financeiros e das economias a nível global.

Juntamente com o International Auditing and Assurance Standards Board (IAASB), o IESBA integra a International Foundation for Ethics and Audit (IFEA). As atividades do IESBA e do IAASB, bem como a adequação dos seus standards ao interesse público, são supervisionadas pelo Public Interest Oversight Board (PIOB).

The International Federation of Accountants (IFAC) extends its sincere thanks to David Isherwood, Ethics Partner at BDO UK, for his outstanding leadership and service to the Forum of Firms (FoF, Forum) and the global profession. David has chaired the FoF since November 2017.

We also warmly welcome Fiona Campbell from Ernst & Young Global Limited as the new Chair of the FoF, effective July 23, 2025. Fiona is an EY partner based in Melbourne, Australia.

Lee White, Chief Executive Officer of IFAC, said: “David’s thoughtful and proactive leadership has left a lasting impact. In particular, he has driven the Forum of Firms and its mission forward, so that the profession continues to meet the highest standards of integrity and quality. His commitment to the practical implementation of global standards, in the public interest, and to fostering collaboration across the profession has been truly appreciated. We thank David for his invaluable work and contributions, including his prominent and active role in the joint IFAC-IESBA Summit, and wish him all the best in his future endeavors.”

Mr. White continued: "I’ve also had the great pleasure of working with Fiona in multiple roles, and I know she brings exceptional judgment, professionalism, and an unwavering commitment to audit quality and the public interest. Her service to our profession as a former Board Member of the IAASB, including as Deputy Chair, and her ongoing leadership at EY, position her well to guide the Forum at this critical moment for the profession, as the global accountancy community navigates a fast-changing environment."

Fiona’s passion for audit, her global perspective, and her focus on quality and collaboration will serve the FoF well as it continues to advance key priorities—from audit quality and sustainability to regulatory alignment and global trust.

“The Forum of Firms was established in 2002 and has since been a unique and highly valued partner to IFAC. I remain committed to engaging with this very important Forum—working together to innovate and deliver sustained value to the global accountancy profession,” Mr. White concluded.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Ethics Standards Board for Accountants (IESBA) has released Firm Culture and Governance: Summary of Feedback from Global Roundtables, a publication that captures stakeholder perspectives from six global roundtables held earlier this year as part of the Board’s Firm Culture and Governance (FCG) project.

Held in New York, Melbourne, Brussels, and Kuala Lumpur, with virtual sessions for Africa and Latin America, the roundtables brought together 168 participants from across the global regulatory, investor, standard setting, accounting firm, professional accountancy and academic communities. Discussions centered on eight core elements of an ethical firm culture: ethical leadership, oversight and governance, provision of independent input, accountability, incentives and rewards, open discussion and challenge, continuous education and training, and transparency about ethical performance.

These roundtables formed part of the IESBA’s ongoing efforts to ensure its decision-making is informed by a balanced and broad-based representation of all relevant stakeholders, in line with its mandate to serve the public interest by setting global ethics, including independence, standards for the accounting profession. The publication of this report reflects the IESBA’s strong commitment to transparency and responsiveness to stakeholder feedback – both of which are essential to fostering trust among all parties involved in the development of the highest ethics standards for the profession.

The insights gathered through these discussions have directly contributed to the IESBA’s recent decision to remain firmly committed to taking decisive steps to address the cultural and governance dimensions within accounting firms, recognizing their critical impact on ethical behavior. These insights will also shape the IESBA’s future work, referenced in a recent IESBA communication on the topic, including:

• the development of a series of IESBA Viewpoints addressing eight key elements to a Firm Culture and Governance Framework, such as ethical leadership, accountability, and incentives and rewards;
• the preparation of a comprehensive plan, to be launched in 2026, for practical guidance and other initiatives to help firms foster an ethical culture and embed values that sustain long-term public trust in them; and
• the decision to consider, by mid-2026, the appropriate approach to developing a Firm Culture and Governance Framework, aimed at guiding firms in strengthening their ethical culture and related governance practices.

To read the publication, visit: Firm Culture & Governance - IESBA Summary of Feedback from Global Roundtables | Ethics Board
 

www.ethicsboard.org | X - @ethics_board | LinkedIn - company/iesba

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.

• The IESBA and IAASB have established technical expert groups to support effective global implementation of the two boards’ sustainability standards.
• Group members bring deep expertise and hands-on experience with the application of the IESSA and ISSA 5000 standards.
• The groups will provide timely, practice-informed feedback and help develop implementation resources that the IESBA and IAASB might commission to support consistent global application.

The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) today announced the recent formation of two expert implementation groups that will play important roles in supporting the effective implementation and application of the Boards’ recently released global sustainability standards:

• The IESBA’s IESSA Implementation Monitoring Advisory Group (IIMAG) will support the implementation of the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and revisions to the IESBA code for sustainability reporting.
• The IAASB’s ISSA 5000 Technical Implementation Contact Group (TICG) will support implementation of the International Standard on Sustainability Assurance (ISSA 5000).

Each group comprises a diverse and globally representative set of professionals with a high level of familiarity with the standards and direct involvement in implementation-related activities. The IIMAG and TICG will provide regular feedback to the Boards to ensure that emerging issues relating to the implementation of the standards are identified and addressed timely, and that implementation support resources remain relevant and practical.

The work of these groups will support and contribute to IESBA and IAASB efforts to support stakeholders’ adoption and implementation of IESSA and ISSA 5000, thereby helping build trust in sustainability information and advancing high-quality assurance practices worldwide.

For more information, visit:

• IESBA’s IESSA Implementation Resources
• IAASB’s ISSA 5000 Technical Implementation Contact Group details
• IAASB’s ISSA 5000 Implementation Resources

About IAASB and IESBA
The International Auditing and Assurance Standards Board^© and the International Ethics Standards Board for Accountants^© are part of the International Foundation for Ethics and Audit (IFEA) ^©, a nonprofit organization that supports high-quality, international ethics, audit, and assurance standards in the public interest. The IAASB and IESBA develop and issue their standards independently and in accordance with an approved due process and the Public Interest Framework, overseen by the Public Interest Oversight Board.

The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.