Highlighting Key Proposed Revisions to the Non-Assurance Services Provisions of the Code
Date:
Attend the March 17, 2020 IESBA webinar highlighting key aspects of the Board’s January 2020 Exposure Draft: Proposed Revisions to the Non-Assurance Services Provisions of the Code.
The presenter, IESBA Deputy Chair and NAS Task Force Chair, Richard Fleck will explain that the proposed revisions to the Code’s non-assurance services (NAS) provisions are intended to strengthen auditor independence, especially for audits of public interest entities (PIEs). He will then provide an overview of the proposed revisions, including:
- A prohibition on providing NAS to an audit client that is a PIE if a self-review threat to independence will be created;
- Further tightening of the circumstances in which materiality may be considered in determining the permissibility of a NAS;
- Strengthened provisions regarding auditor communication with those charged with governance (TCWG), including, for PIEs, a requirement for NAS pre-approval by TCWG; and
- Stricter requirements regarding the provision of some NAS, including certain tax and corporate finance advice.
Comments on the NAS Exposure Draft are due by May 4, 2020.