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IESBA Proposes Revised Ethical Requirements Prohibiting Improper Inducements

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

Sep 08, 2017

On September 8, 2017, the International Ethics Standards Board for Accountants (IESBA) released for public comment the Exposure Draft, "Proposed Revisions to the Code Pertaining to the Offering and Accepting of Inducements." The proposals strengthen the Code of Ethics for Professional Accountants (the Code) by clarifying the appropriate boundaries for the offering and accepting of inducements, and by prohibiting any inducements with intent to improperly influence behavior.

The proposed comprehensive framework covers all forms of inducements and applies to both professional accountants in business and professional accountants in public practice. It also provides enhanced guidance on the offering and accepting of inducements by professional accountants’ immediate or close family members.

Among other matters, the proposals also require professional accountants to address any threats to compliance with the fundamental ethical principles in accordance with the Code’s conceptual framework where there is no improper intent.

Comments are requested by December 8, 2017.

Review the press release and the Exposure Draft on the IESBA's website.

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