Table of Contents Table of Contents
Previous Page  7 / 23 Next Page
Show Menu
Previous Page 7 / 23 Next Page
Page Background

Other considerations

The Revised and Restructured IRBA Code will have many

significant changes that will need to be considered by all registered

auditors and audit firms. The following will need to be considered:

• Training for firm personnel across all levels;

• Updating of the firm methodology;

• Considering amendments to firm policies and procedures;

• Noting differences between local requirements and

international requirements;

• Transitional arrangements, and catering for the differing

effective dates; and

• Re-assessing safeguards currently used under the extant

IRBA Code, among others.

Request for comments

The IRBA had invited registered auditors and other interested parties

to submit any comments regarding the proposed IRBA Code to the


2 July 2018.

A copy of the exposure draft is available in PDF format and may be

downloaded from the exposure drafts page on the

IRBA website .

International Ethics Standards Board for Accountants

This is a unique invitation and opportunity for everyone with an

interest in the ethical conduct of accountants and registered

auditors to influence the global standard-setting agenda. The

IEBSA has released two consultation papers for public comment,

as detailed below.

Proposed IESBA Strategy and Work Plan 2019-2023

The IESBA released its

Proposed Strategy and Work Plan, 2019- 2023

on 16 April 2018 and is seeking comments, views and

insights from all stakeholders


16 July 2018

to help shape its

future strategic direction.

The proposed Strategy and Work Plan projects the IESBA’s

vision for the completely rewritten and significantly strengthened

International Code of Ethics for Professional Accountants (including International Independence Standards)

(the Code) in

the global economy. The IESBA’s future priorities and actions will be

guided by the following three strategic themes:

• Advancing the Code’s relevance by keeping it fit-for-purpose

for a rapidly changing world, and further strengthening ethical

conduct and independence standards;

• Deepening and expanding the Code’s impact and influence

through increased global adoption and implementation; and

• Enriching the IESBA’s perspectives and capacities through

proactive stakeholder dialogue and co-operation.

IESBA Consults on Professional Scepticism

The IESBA seeks public comment by

15 August 2018

on its

consultation paper,

Professional Skepticism – Meeting Public Expectations .

In response to regulatory and other stakeholder feedback on the

topic, the paper explores:

• The behavioural characteristics comprised in professional


• Whether all professional accountants should apply these

behavioural characteristics; and

• Whether the

International Code of Ethics for Professional Accountants (including International Independence Standards)

should be further developed to address behaviours

associated with the exercise of appropriate professional


Through this initiative, the IESBA also aims to reinforce the effective

exercise of professional scepticism by auditors.

Request for comments

Consultation on the IESBA Strategy and Work Plan 2019-2023

is open for responses until 16 July 2018, and these must be

submitted using the IESBA online tool. We invite registered auditors

to submit their responses to the Proposed Strategy and Work Plan

consultation via the IESBA

website .

We invite registered auditors and others to submit any comments

regarding the Professional Scepticism consultation paper to the

IRBA for consideration as we prepare our response to the IESBA.

Comments, which need to be submitted by

1 August 2018

, should

be addressed to

and be in Word and PDF


Alternatively, comments may be submitted directly to the IESBA

through the

website, which has a “Submit a

Comment” link on the Exposure Drafts and Consultation Papers

page. Comments to the IESBA close on

15 August 2018


IESBA projects in progress

• Non-assurance services.

• Fees.

• Technology.

• E-Code.

• Alignment of Part 4B of the Code and ISAE 3000 (Revised).

More information on these projects is available on the

IESBA website .


Please advise Lebogang Manganye


if you would like to receive IRBA communications, or if you are

aware of a non-auditor who would like to receive these.

ETHICS cont.

Imran Vanker

Director Standards

Telephone: (087) 940-8838

Fax: (086) 575-6535


Issue 42 | April - June 2018