Proposed Changes to Part C of the Code Addressing Presentation of Information and Pressure to Breach the Fundamental Principles

IESBA

Nov 24, 2014 | Exposure Drafts and Consultation Papers

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Comments due by: Apr 15, 2015

This Exposure Draft deals with two matters on which professional accountants in business most often seek assistance in practice—their responsibility to produce financial reports that are faithful representations of the economics of transactions, and pressure to breach the fundamental ethical principles.

Among the proposed changes are:

Fuller and more explicit guidance regarding PAIBs’ responsibilities when presenting information;
Strengthened guidance on how a PAIB can disassociate from misleading information;
An expanded description of pressure that may lead to a breach of the fundamental principles in the Code together with practical examples to illustrate different kinds of situations in which such pressure may arise; and
New guidance to assist PAIBs in identifying and responding to pressure that could result in a breach of the fundamental principles.

Copyright © 2024 The International Federation of Accountants (IFAC). All rights reserved.

Submitted Comment Letters

The Hong Kong Assoiation of Banks (HKAB) (246.01 KB)
(Hong Kong, Special Administrative Region of China)

Mar 6, 2015
Chartered Institute of Public Finance and Accountancy (CIPFA) (83.76 KB)
()

Mar 19, 2015
FSR - Danske Revisorer (254.59 KB)
(Denmark)

Mar 24, 2015
The Institute of Chartered Accountants [Ghana] (1.21 MB)
(Ghana)

Mar 27, 2015
Jean Thiomas Giraud (1008.88 KB)
(Haiti)

Mar 28, 2015
National Association of State Boards of Accountancy (53.09 KB)
(United States of America)

Mar 31, 2015
PricewaterhouseCoopers International Limited (188.58 KB)
()

Apr 1, 2015
VRC (177.12 KB)
(Netherlands)

Apr 2, 2015
The Malaysian Institute of Certified Public Accountants (MICPA) (131.94 KB)
(Malaysia)

Apr 7, 2015
CPA Canada (55.77 KB)
(Canada)

Apr 9, 2015
Korean Institute of Certified Public Accountants (172.54 KB)
(Korea)

Apr 13, 2015
DTTL (58.98 KB)
()

Apr 13, 2015
Institute of Singapore Chartered Accountants (424.01 KB)
(Singapore)

Apr 13, 2015
Pennsylvania Institute of Certified Public Accountants (PICPA) (200.25 KB)
()

Apr 13, 2015
ICAEW (207.33 KB)
(United Kingdom)

Apr 14, 2015
AAT (39.8 KB)
(Europe & Central Asia)

Apr 14, 2015
Chartered Accountants Australia and New Zealand (56.1 KB)
(Australia)

Apr 14, 2015
JICPA (211.02 KB)
(Japan)

Apr 15, 2015
Accounting Professional & Ethical Standards Board (Australia) (144.72 KB)
(Australia)

Apr 15, 2015
Institute of Certified Public Accountants of Kenya (222.5 KB)
(Kenya)

Apr 15, 2015
Malaysian Institute of Accountants (872.33 KB)
(Malaysia)

Apr 15, 2015
Hong Kong Institute of Certified Public Accountants (94.24 KB)
(Hong Kong, Special Administrative Region of China)

Apr 15, 2015
Audit Oversight Board, Securities Commission Malaysia (668.5 KB)
(Malaysia)

Apr 15, 2015
The Institute of Chartered Accountants of Pakistan (158.53 KB)
(Pakistan)

Apr 15, 2015
IFAC Professional Accountants in Business Committee (105.86 KB)
()

Apr 15, 2015
KPMG IFRG Limited (65.56 KB)
()

Apr 15, 2015
South African Institute of Chartered Accountants (278.32 KB)
(South Africa)

Apr 15, 2015
AICPA (345 KB)
(United States of America)

Apr 15, 2015
Institute of Management Accountants (IMA) (29.95 KB)
(United States of America)

Apr 15, 2015
Association of Chartered Certified Accountants (191.99 KB)
()

Apr 15, 2015
ZICA (234.8 KB)
(Zambia)

Apr 15, 2015
Interamerican Accounting Association (AIC) (543.34 KB)
()

Apr 15, 2015
Instituto Salvadoreno de Contadores Publicos (73.24 KB)
(El Salvador)

Apr 15, 2015
The Institute of Chartered Accountants of Scotland (ICAS) (364.94 KB)
(United Kingdom)

Apr 16, 2015
CPA Australia (CPA Au) (34.03 KB)
(Australia)

Apr 17, 2015
Denise Silva Ferreira Juvenal (139.88 KB)
(Brazil)

Apr 18, 2015
Financial Reporting Council (291.4 KB)
(United Kingdom)

Apr 20, 2015
FEE - Federation of European Accountants (247.29 KB)
(Belgium)

Apr 21, 2015
FAR - the Institute for the Accountancy Profession in Sweden (25.16 KB)
(Sweden)

Apr 24, 2015
International Organization of Securities Commissions (IOSCO) (242.52 KB)
()

Apr 27, 2015
Royal Nederlandse Beroepsorganisatie van Accountants (NBA) (95.52 KB)
(Netherlands)

Apr 30, 2015
Chartered Institute of Management Accountants (CIMA) (224.34 KB)
(United Kingdom)

May 18, 2015