Proposed Revision to the Code Addressing the Objectivity of Engagement Quality Reviewers

IESBA

Jan 30, 2020 | Exposure Drafts and Consultation Papers

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Comments due by: Mar 16, 2020

The Exposure Draft includes proposed guidance on the application of the conceptual framework in the Code to address the topic of the objectivity of an engagement quality reviewer (EQR), thereby supporting proposed ISQM 2 in addressing the matter of the eligibility of an individual to serve in an EQR role. In particular, the proposed guidance:

Explains the different types of threat to compliance with the fundamental principle of objectivity that might be created in circumstances where an individual is being considered for appointment as an EQR for a given engagement;
Sets out factors to consider in evaluating the level of the identified threats; and
Suggests actions that might be safeguards to address the threats.

The development of the proposal benefited from cooperation with the IAASB within the established coordination framework of the two Boards. The IESBA is proceeding on an accelerated time frame to finalize the proposal in order to align closely with the anticipated finalization of ISQM 2 within 2020.

Comments on the Exposure Draft are requested by March 16, 2020 from all stakeholders.

Submitted Comment Letters

Financial Reporting Council (474.67 KB)
(United Kingdom)

Mar 9, 2020
Institute of Public Accountants (83.13 KB)
()

Mar 9, 2020
ICAEW (131.32 KB)
(United Kingdom)

Mar 11, 2020
Institute of Singapore Chartered Accountants (ISCA) (159.77 KB)
(Singapore)

Mar 12, 2020
KPMG International (80.13 KB)
()

Mar 13, 2020
Baker Tilly International (174.52 KB)
()

Mar 13, 2020
U.S. Government Accountability Office (152.77 KB)
()

Mar 13, 2020
New York State Society of Certified Public Accountants (293.4 KB)
(United States of America)

Mar 13, 2020
The Institute of Chartered Accountants of Scotland (174.67 KB)
(United Kingdom)

Mar 13, 2020
Deloitte Touche Tohmatsu Limited (88.65 KB)
()

Mar 13, 2020
KICPA (163.33 KB)
(Korea)

Mar 16, 2020
The Malaysian Institute of Certified Public Accountants (MICPA) (92.29 KB)
(Malaysia)

Mar 16, 2020
ACCA / CA ANZ (113.5 KB)
()

Mar 16, 2020
PricewaterhouseCoopers International Limited (117.02 KB)
()

Mar 16, 2020
Crowe Global (117.24 KB)
()

Mar 16, 2020
Moore Global (83.97 KB)
()

Mar 16, 2020
Ernst & Young Global Limited (31.05 KB)
()

Mar 16, 2020
Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (420.25 KB)
(Germany)

Mar 16, 2020
Auditor-General of South Africa (339.46 KB)
(South Africa)

Mar 16, 2020
CPA Canada, Public Trust Committee (332.54 KB)
()

Mar 16, 2020
NATIONAL BOARD OF ACCOUNTANTS AND AUDITORS - TANZANIA (473.12 KB)
(Tanzania, United Republic of)

Mar 16, 2020
South African Institute of Chartered Accountants (534.31 KB)
(South Africa)

Mar 16, 2020
BDO (153.37 KB)
()

Mar 16, 2020
Botswana Institute of Chartered Accountants (207.85 KB)
(Botswana)

Mar 16, 2020
Japanese Institute of Certified Public Accountants (145.07 KB)
(Japan)

Mar 18, 2020
ICPAK (179.75 KB)
(Kenya)

Mar 18, 2020
Independent Regulatory Board for Auditors (253.47 KB)
()

Mar 23, 2020
IBRACON (179.09 KB)
(Brazil)

Mar 23, 2020
AICPA (211.49 KB)
()

Mar 23, 2020
Grant Thornton International Limited (153.92 KB)
()

Mar 24, 2020
New Zealand Auditing and Assurance Standards Board (239.18 KB)
()

Mar 24, 2020
IESBA SMPC (102.1 KB)
()

Mar 26, 2020
Accounting Professional & Ethical Standards Board Limited (APESB) (480.18 KB)
()

Mar 27, 2020
Wirtschaftsprüferkammer (68.46 KB)
(Germany)

Apr 1, 2020
Accountancy Europe (67.21 KB)
()

Apr 3, 2020
MALAYSIAN INSTITUTE OF ACCOUNTANTS (MIA) (453.27 KB)
(Malaysia)

Apr 13, 2020
CPA Australia Ltd (167.95 KB)
()

Apr 20, 2020
Audit Oversight Board, Securities Commission Malaysia (259.37 KB)
(Malaysia)

May 5, 2020