IESBA Director Linda Biek discusses whether revisions to the International Code of Ethics for Professional AccountantsTM (including International Independence StandardsTM) (the “Code”) are necessary to address the independence of auditors when they carry out audits of Collective Investment Vehicles (CIVs) and Pension Funds (collectively referred to as “Investment Schemes” or “Schemes”).
IESBA Program and Senior Director Ken Siong discusses a recent shift in how the IESBA develops its international ethics and independence standards: the Staff Driven Model. Learn how the IESBA is moving from board-led task forces to empowered staff-led project teams, why this change aligns with global regulatory reforms, and how the model is already being piloted with promising results.
Featuring IESBA Program and Senior Director Ken Siong
The IAASB issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation on August 2.
When approved, ISSA 5000 will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe. It will apply to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements.
ISSA 5000 also benefits from close consultation and coordination with other global organizations, including IOSCO, FSB, IESBA, ISSB, and GRI.
From August 2 to December 1 is when we need to hear from you; your feedback on the proposed standard is crucial. We need to hear from those who:
Prepare, use or provide assurance on sustainability information
Use reported sustainability information to make decisions, including audit committee members, investors, and others.
We will issue the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation on August 2.
When approved, ISSA 5000 will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe. It will apply to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements.
ISSA 5000 also benefits from close consultation and coordination with other global organizations, including IOSCO, FSB, IESBA, ISSB, and GRI.
From August 2 to December 1 is when we need to hear from you; your feedback on the proposed standard is crucial. We need to hear from those who:
Prepare, use or provide assurance on sustainability information
Use reported sustainability information to make decisions, including audit committee members, investors, and others.
On January 1, 2022, Ms. Gabriela Figueiredo Dias of Portugal became the first Chairwoman of the IESBA. On January 25, 2022, Ms. Dias offered insights into her background, why she is excited to lead the Board, and what she sees ahead for the IESBA and the accountancy profession.
The New Chairwoman of the International Ethics Standards Board for Accountants
On a recent outreach trip to Australia and New Zealand, IAASB Chair, Tom Seidenstein and IAASB Deputy Chair, Fiona Campbell sat down with Amir Ghandar from CA ANZ to discuss the future of standard setting, embracing agile-standard setting and the board’s focus on keeping trust in its audit product. This is the first in a series of four interview videos conducted by CA ANZ.
Courtesy of Chartered Accountants Australia and New Zealand
Listen to Rich Sharko, IAASB Board member and the Chair of the ISA 540 (Revised) Implementation Working Group, as he explains the public interest issues addressed by International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures. This 10 minute presentation also contains useful information to help stakeholders understand the changes to the standard and the planned activities of the ISA 540 (Revised) Implementation Working Group.
Listen to IAASB Task Force Chair Fiona Campbell as she explains how International Standard on Auditing 315 (Revised) will improve audit quality through better guidance on identifying and assessing material misstatement risks. This 90 minute webinar contains useful information to help our stakeholders understand the proposed changes to the standard. The IAASB is planning a follow-up webinar in early October 2018 to provide stakeholders with an opportunity to ask questions about the Exposure Draft. Invitations will be sent in September for registration webinar and to submit questions. In the meantime, you have until November 2nd toprovide your comment to the Exposure Draft.
The International Ethics Standards Board for Accountants (IESBA) welcomed the International Auditing and Assurance Standards Board (IAASB) Member and Deputy Chair of the IAASB, Ms. Megan Zietsman, along with IAASB Members Ms. Karin French (Quality Control Task Force Chair) and Mr. Ron Salole (Agreed-Upon Procedures Task Force Chair) via Webcast to present highlights of certain projects of interest to the IESBA Members.
The updated projects, include, proposed Quality Control at a Firm Level (ISQC 1), Quality Control at the Engagement Level (ISA 220), the proposed new Engagement Quality Control Standard (ISQC 2) and the proposed revisions to the Agreed-Upon Procedures International Standard on Related Services (ISRS 4400).
The International Audit and Assurance Board (IAASB) welcomed the International Ethics Standards Board for Accountants (IESBA) Member and IAASB-IESBA Coordination Liaison, Ms. Sylvie Soulier via Webcast to present highlights of the new Code of Ethics.
In April 2018, the IESBA released a revised and restructured Code of Ethics for Professional Accountants which is easier to navigate, use and enforce. The new Code also brings together substantive changes that have been made to the Code over the past four years.
