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Ethics standards board finalises priorities

17 Oct 2011

The International Ethics Standards Board for Accountants (IESBA) has released its '2011-2012 IESBA Strategy and Work Plan', which sets the direction and priorities for the activities of the IESBA.

The work plan, which has been approved by IESBA, the IESBA Consultative Advisory Group, and the Public Interest Oversight Board (PIOB), contains the following priorities:

  • Development of standards. The IESBA intends to progress projects on inadvertent violations of the Code of Ethics for Professional Accountants (Code) (finalised standard expected Q1 2012), conflicts of interest (ED expected Q4 2011) and responding to fraud and illegal acts (ED expected Q4 2011)
  • Adoption and implementation. The IESBA plans to continue to assess what additional material or activities would be useful to support those who are adopting and implementing the Code
  • Convergence. The IESBA will further its objective of achieving convergence of the Code and national standards and regulations by identifying improvements, comparing the Code to standards and regulations of select jurisdictions and increased outreach efforts.

Click for IESBA press release (link to IFAC website).