ETH I CS
Strategy is available on the IAASB's website at
IESBA issues consultation paper on Improving the
Structure of the Code of Ethics for Professional
Accountants
On 4 November 2014, the IESBA released a consultation
paper on
Improving the Structure of the Code of Ethics for
Professional Accountants
for public comment. The paper
seeks input from stakeholders on approaches that could be
taken to improve the clarity and usability of the Code, thereby
facilitating its adoption, effective implementation, and
consistent application.
Among the various matters on which the Ethics Board is
consulting are:
?
Restructuring the Code to more clearly distinguish
requirements fromguidance;
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Reorganising the content of the Code, including rebranding
the Code, or parts thereof, as international standards;
?
Identifying responsibility for compliance with the Code in
particular circumstances; and
?
Simplifying the wording of the Code so that it can be more
readily understood.
Committee forAuditor Ethics (CFAE)
As the IRBA's Code of Professional Conduct for Registered
Auditors adopted Parts A and B of the IESBA Code, the IRBA
will submit comments to the IESBA. The consultation paper is
available on the IESBAwebsite at
IESBA issues exposure draft addressing Part C of the
Code of Conduct
On 24 November 2014, the IESBA released
Proposed
Changes to Part C of the Code Addressing Presentation of
Information and Pressure to Breach the Fundamental
Principles
for public comment. 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.
As the IRBA's
Code of Professional Conduct for Registered
Auditors
adopted Parts A and B of the IESBA Code only (and
not Part C of the IESBACode), the CFAE will not be submitting
comments to the IESBA. The exposure draft can be found on
9
Issue 28 October 2014 - March 2015
