Proposed Revisions Pertaining to Safeguards in the Code—Phase 1
IESBA
| Exposure Drafts and Consultation Papers
English
Comments due by:
This Exposure Draft (ED) includes enhanced requirements and application material pertaining to the application of the conceptual framework in the Code of Ethics for Professional Accountants (the Code), including safeguards.
Key enhancements proposed in the Safeguards ED, which is presented in accordance with the new structure and drafting conventions, include:
- More robust and prominent requirements related to the application of the conceptual framework, including a required overall assessment of the judgments made and conclusions reached;
- A clearer and more robust description of the concept of safeguards, and clarified and streamlined examples of safeguards; and
- New guidance regarding the application of the concept of a “reasonable and informed third party” that is essential to properly applying the conceptual framework.
Copyright © 2024 The International Federation of Accountants (IFAC). All rights reserved.
Submitted Comment Letters
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VRC (181.79 KB)(Netherlands)
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Crowe Horwath International (131.57 KB)()
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Crowe Horwath International (131.3 KB)()
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FSR - danske revisorer (351.44 KB)(Denmark)
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Institute of Singapore Chartered Accountants (ISCA) (389.27 KB)(Singapore)
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New Zealand Auditing and Assurance Standards Board of the XRB (257.39 KB)(New Zealand)
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New Zealand Auditing and Assurance Standards Board of the XRB (257.39 KB)(New Zealand)
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The Institute of Chartered Accountants [Ghana] (ICAGH) (950.05 KB)(Ghana)
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Office of the Auditor-General of New Zealand (9.94 MB)(New Zealand)
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Malaysian Institute of Accountants (MIA) (718.7 KB)(Malaysia)
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Institut der Wirtschaftsprüfer e.V. (IDW) (1.63 MB)(Germany)
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KICPA (146.46 KB)(Korea)
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RSM International Limited (475.87 KB)(United Kingdom)
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ICAEW (217.38 KB)(United Kingdom)
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The Institute of Chartered Accountants of Bangladesh (ICAB) (284.62 KB)(Bangladesh)
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Wirtschaftsprueferkammer (65.09 KB)(Germany)
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ICAS (372.48 KB)(United Kingdom)
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Association of Accounting Technicians (216.7 KB)()
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Association of Accounting Technicians (216.7 KB)()
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BDO (260.28 KB)(United Kingdom)
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International Association of Insurance Supervisors (IAIS) (246 KB)()
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Deloitte Touche Tohmatsu Limited (91.84 KB)()
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Independent Regulatory Board for Auditors (IRBA) (859.17 KB)(South Africa)
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National Association of State Boards of Accountancy (56.91 KB)(United States of America)
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South African Institute of Chartered Accountants (261.04 KB)(South Africa)
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KPMG IFRG Limited (67.53 KB)(United Kingdom)
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Institute of Certified Public Accountants of Kenya (252.17 KB)(Kenya)
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Chartered Professional Accountants of Canada (58.75 KB)(Canada)
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IFAC SMP Committee (66.47 KB)()
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Samenwerkende Accountantskantoren (SRA) (45.79 KB)(Netherlands)
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Grant Thornton International Ltd (GTI) (268.32 KB)()
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United States Government Accountability Office (GAO) (130.93 KB)()
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RSM UK (331.92 KB)(United Kingdom)
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Hong Kong Institute of Certified Public Accountants (151.14 KB)(Hong Kong, Special Administrative Region of China)
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FAR - the Institute for the Accountancy Profession in Sweden (807.51 KB)(Sweden)
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Ordre des Experts Comptables et Financiers de Madagascar (OECFM) (144.71 KB)(Madagascar)
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AICPA (423.56 KB)(United States of America)
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PricewaterhouseCoopers International Limited (171.41 KB)()
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Chartered Accountants Australia and New Zealand (CA ANZ) (165.46 KB)()
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Association of Chartered Certified Accountants (94.72 KB)()
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Accounting Professional & Ethical Standards Board Limited (APESB) (482.79 KB)(Australia)
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Institute of Public Accountants (655.97 KB)(Australia)
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CPA Australia (CPA Au) (33.47 KB)(Australia)
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Financial Reporting Council (FRC) (229.16 KB)(United Kingdom)
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ASSIREVI (1.14 MB)(Italy)
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Ernst & Young Global Limited (360.12 KB)()
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The National Federation of Certified Public Accountant Associations of the Republic of China (NFCPAAROC) (386.97 KB)(Chinese Taiwan)
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Royal Netherlands Institute of Chartered Accountants (NBA) (434.27 KB)(Netherlands)
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Compagnie Nationale des Commissaires aux Comptes (CNCC) (243.46 KB)()
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European Audit Regulators (EAIG) (188.71 KB)()