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Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients

  • IESBA (International Ethics Standards Board for Accountants) (lt gray) Image

May 20, 2014

On May 20, 2014, the International Ethics Board for Accountants (IESBA) issued an Exposure Draft of proposed changes to the Code of Ethics with respect to non-assurance services provided to clients.

The proposed changes

  1. provide  additional guidance and clarification regarding what constitutes management responsibility;
  2. provide better guidance and clarification on the concept of “routine or mechanical” services relating to the preparation of accounting records and financial statements for non-public interest entity audit clients; and
  3. remove the provision that permits an audit firm to provide certain bookkeeping and taxation services to public interest entity audit clients in emergency situations.

Review the Exposure-Draft on the IESBA's Web site.

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