The Phase 2 proposals (Structure Exposure Draft-2) restructure select sections of the Code, including recently finalized provisions addressing:

• accountants’ response to non-compliance with laws and regulations (NOCLAR);
• long association of firm personnel with an audit or assurance client; and
• ethical issues that professional accountants in business (PAIBs) often face.

• See also Restructuring the Code. 

The proposals clarify the applicability of the requirements and application material in extant Part C, Professional Accountants in Business, of the Code of Ethics for Professional Accountants to professional accountants in public practice.

• See how the proposals fit into the Structure Project. 

This Discussion Paper, issued by the International Auditing and Assurance Standards Board (IAASB)’s Agreed-Upon Procedures (AUP) Working Group, sets out the key features of an AUP engagement and explores how they are undertaken, including the extent to which practitioners find existing requirements and guidance helpful or challenging. In addition, the IAASB is seeking an understanding of how reports on factual findings are used to determine the needs of users.

This Request for Input from the International Auditing and Assurance Standards Board (IAASB)’s Data Analytics Working Group (DAWG) provides insights into the opportunities and challenges with the use of data analytics in the audit of financial statements and outlines the insights gained from the DAWG’s activities to date. The purpose of the Request for Input is to:

The International Auditing and Assurance Standards Board (IAASB)’s Integrated Reporting Working Group has released a Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements.

It is intended to facilitate an open discussion about the IAASB’s potential role and where others can or need to play a role in a holistic and interactive process to support credibility and trust in these reports.

The Discussion Paper explores:

The International Public Sector Accounting Standards Board has released for comment a Consultation Paper (CP), Public Sector Financial Instruments.

This paper is an important step in determining the appropriate reporting for public sector specific financial instruments. The CP considers the issues related to these instruments and possible approaches to accounting for them. The objective of the CP is to initiate a debate about matters such as:

The IAASB’s Survey Consultation, The IAASB’s Work Plan for 2017‒2018 and Continuing Relevance of Its Strategic Objectives, seeks feedback from a wide range of stakeholders to assist the board in evaluating its priorities for 2017–2018 and allocating its resources—a full-time Chairman supported by a 17-person volunteer board and ten-person technical staff—in the best way possible.

Translation is limited only to JICPA members. 

The Exposure Draft relates to the IESBA’s project to develop more robust and comprehensive provisions dealing with the long association of personnel with an audit or assurance client. It contains a basis for conclusions regarding proposals that have been finalized, as well as the limited re-exposure of three remaining issues, including:

The International Public Sector Accounting Standards Board^® (IPSASB^®) has issued Exposure Draft (ED) 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS™).