Global Ethics Board Consults on Professional Skepticism

The International Ethics Standards Board for Accountants® (IESBA®) seeks public comment by August 15, 2018 on its consultation paper, Professional Skepticism – Meeting Public Expectations.

In response to regulatory and other stakeholder feedback on the topic, the paper explores:

(a) The behavioral characteristics comprised in professional skepticism;

(b) Whether all professional accountants should apply these behavioral characteristics; and

(c) Whether the International Code of Ethics for Professional Accountants (including International Independence Standards) should be further developed to address behaviors associated with the exercise of appropriate professional skepticism.

Through this initiative, the IESBA also aims to reinforce the effective exercise of professional skepticism by auditors.

The consultation paper was developed following close coordination with the International Auditing and Assurance Standards Board (IAASB) and the International Accounting Education Standards Board (IAESB), and with advice from the IESBA Consultative Advisory Group.

The paper will form the basis for discussion with a wide range of stakeholders at a series of three global roundtables in Washington, DC, USA on June 11; Paris, France on June 15; and Tokyo, Japan on July 12.