IESBA eNews November 2019

Nov 8, 2019 | English

IAASB and IESBA Pledge Stronger Alliance at Third Annual Joint Plenary Meeting

Building on their overarching commitment for enhanced connectivity and coordination to better serve the public interest, the boards explored in particular how to better achieve “joined-up thinking” at a strategic level.

In September 2019, New York City played host to the Third Annual Joint IAASB/IESBA Plenary Meeting, in a coordination effort between the International Auditing and Assurance Standards Board (IAASB) and the IESBA.

Watch and Learn!
International Webinar on Proposed Changes for Role and Mindset Expectations

The IESBA recently hosted a webinar to help stakeholders understand the recent proposed Code of Ethics changes to promote role and mindset expectations of all professional accountants. Listen to IESBA Deputy Chair Richard Fleck share an overview of the proposed revisions.

Comments to the Exposure Draft, Proposed Revisions to Promote the Role and Mindset Expected of Professional Accountants, were due on October 31, 2019. Thank you to all who shared their insights.

Click here for more

Update on Current Projects and Initiatives

Global Ethics Webinar:
Explaining the Newly Effective Code of Ethics

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.

Wednesday November 20, 2019 at 10:00 AM SST (Singapore Standard Time)

Register here to join!

IFAC and IESBA introduce new websites

You may have noticed something different during your most recent visit to ifac.org. IFAC has a new website, which includes a fresh look and tailored functionality for the IESBA.

Improved user experience was central to the new site, which features a bold new design, more engaging content and easier navigation. The Knowledge Gateway has been substantially re-imagined to include all of IFAC’s content and the key focus areas are now color-coded throughout the site, making it easier to discover new, relevant content.

In an effort to be more responsive to the needs of the boards, i’s now easier to find, follow and respond to calls for input. Also, if you’re looking for a new handbook from a standard-setting board, they’re now prominently featured and easily accessible.

Tax Planning

The Board approved Terms of Reference for its Tax Planning and Related Services Working Group. The multi-phased initiative will focus on engaging with a broad range of stakeholders as part of information gathering activities in Phase 1.

The IESBA anticipates considering the Working Group’s final report in Q3 2020, which will inform the IESBA’s future work and deliverables in relation to this strategic initiative.

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Part 4B Alignment to ISAE 3000 (Revised)

The Board unanimously approved for issuance, subject to approval by the PIOB, proposed changes to Part 4B of the Code, Independence for Assurance Engagements other than Audit and Review Engagements, to align it to changes to terms and concepts in the IAASB’s International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information.

Read more

Visit the IESBA Project webpage to learn more about current projects and initiatives and to obtain the most current version of the IESBA’s Project Timetable. Highlights of the September 2019 meeting are available in print and via podcast.

International Compliance Forum

24-25 February 2020
Amsterdam, Netherlands

IMH, in association with ICA, will hold the International Compliance Forum to discuss the latest developments and trends in corporate governance, as well as address the current challenges facing the global compliance & ethics community. The forum is intended to facilitate discussions on the benefits of compliance management in business and more importantly, the return on investment of compliance.

The International Compliance Forum will welcome a number of high caliber international speakers who will discuss how the compliance function has progressed over the years and exchange views on how organizations can use their compliance function to enable change and enhance their competitiveness.

IESBA Chairman Dr. Stavros Thomadakis will be one of the distinguished speakers at the Forum.

Upcoming IESBA Meeting

December 3 - 6, 2019 | IFAC Offices, New York
Register to attend the IESBA meeting

Want to know more?

Read the minutes and working papers for all our IESBA meetings. They’re a great information source about project progress and how we support and protect the public interest.

Upcoming Outreach and Stakeholder Engagement Activities

November 2019 | China | Regulators, firms and other stakeholders
November 2019 | Webinar on the revised and restructured Code for Asia Pacific stakeholders, in association with the ASEAN Federation of Accountants
November 2019 | USA | 35th Annual SEC Reporting & FASB Forum
November 2019 | Romania | Committee of European Audit Oversight Bodies (CEAOB)
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The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants (the Code), which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC.

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