Exposure Draft, Proposed Revisions to Part 4B of the Code

To Reflect Terms and Concepts Used in ISAE 3000 (Revised)
IESBA
| Exposure Drafts and Consultation Papers
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This exposure draft seeks views from practitioners and other stakeholders in relation to proposed revisions to Part 4B of the revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) to reflect terms and concepts used in International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

The proposals in the Exposure Draft include:

  • Changes in key terminology, including a revised definition of the term “assurance client”;
  • Enhanced and clarified independence requirements for attestation engagements;
  • Clarification of the types of assurance engagement addressed in Part 4B;
  • Simplified guidance on assurance engagements that refers to the definitive source of explanatory material on such engagements in IAASB literature.
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