The Agenda items in­cluded:

• QM-related Conforming Amendments
• Tech­nol­ogy Project
• Technology Non-authoritative Materials & Fact Finding
• Non-Assurance Services & Fees Rollout
• En­gage­ment Team – Group Au­dits In­de­pen­dence
• Benchmarking
• Tax Plan­ning & Re­lated Ser­vices
• Definitions of Listed Entity & PIE

Re­view the high­lights sum­mary and pod­cast on the IESBA's web­site.

The Agenda items in­cluded:

• Non-Assurance Services & Fees Rollout
• Benchmarking
• Tech­nol­ogy
• En­gage­ment Team – Group Au­dits In­de­pen­dence
• Emerging Issues and Outreach Committee
• Long Association Post-Implementation Review – Phase 1
• IAASB-IESBA Coordination
• Tax Planning & Related Services

Re­view the high­lights summary and pod­cast on the IESBA's web­site.

Agenda items included:

• Non-as­sur­ance Ser­vices (NAS)
• Fee-re­lated Pro­vi­sions of the Code (Fees)
• De­f­i­n­i­tions of Listed En­tity and Pub­lic In­ter­est En­tity (PIE)
• Tech­nol­ogy
• En­gage­ment Team – Group Au­dits Independence Issues

Re­view the high­lights and pod­cast on the IESBA's web­site.

The Agenda items in­cluded:

• Definitions of Listed Entity and PIE
• Non-As­sur­ance Ser­vices & Fees Roll­out
• Bench­mark­ing
• Emerging Issues and Outreach Committee (EIOC)
• Technology Fact Finding and Thought Leadership
• Technology Project
• eIS / eCode 2.0
• Tax Planning & Related Services
• Long Association Post-Implementation Review (Phase 1)
• Engagement Team–Group Audits Independence
• Next Meeting

Re­view the high­lights sum­mary and pod­cast on the IESBA's web­site.

The proposals aim to align the Code with the International Auditing and Assurance Standards Board's (IAASB's) suite of quality management standards, especially ISQM 1 and ISQM 2, through conforming amendments so that the Code is consistent and interoperable with these IAASB standards. The review has encompassed the recent revisions to the Code pertaining to Role & Mindset and the Non-assurance Services and Fee-related provisions of the Code.

Review the press release and exposure draft on the IESBA's website.

The proposed revisions broaden the definition of a public interest entity (PIE) to include more categories of entities, given the level of public interest in their financial condition, for the purposes of additional independence requirements to enhance confidence in their audits.

Among other matters, the proposed revisions:

• Introduce an overarching objective for additional requirements to enhance confidence in the audit of financial statements of PIEs.
• Provide guidance on factors to consider when determining the level of public interest in an entity.
• Broaden the definition of PIE to additional categories of entities.
• Replace the term “listed entity” with the term “publicly traded entity” and redefine that PIE category.
• Introduce new requirements for firms to determine if additional entities should be treated as PIEs for independence purposes and to publicly disclose if an audit client was treated as a PIE.
• Recognize and encourage local regulators to refine PIE categories in regard to national conditions.

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

This staff publication supplements the guidance material in the explanatory memorandum of the Exposure Draft "Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code" (PIE ED), which was released in January.

It will assist local regulators, national standard setters or other relevant local bodies in considering and planning adoption of the revised PIE definition when finalized and issued by the IESBA. The IESBA recognizes that there may be refinements to the proposals as a result of the comments received on exposure.

Review the press release and publication on the IESBA's website.

In March 2021, the IESBA reflected on the progress made to date on its technology Initiative, and considered next steps and timing, also recognizing the increased burdens stakeholders have shouldered as a result of the pandemic.

Review the update on the IESBA's website.

The revisions provide guidance that supports ISQM 2 in addressing the eligibility of an individual to serve in an EQR role, focusing on the critical attribute of objectivity. Among other matters, the guidance:

• Elaborates on the need to identify, evaluate and address threats to compliance with the fundamental principle of objectivity that might arise in the appointment of an individual as an EQR for a given engagement;
• Explicitly refers to and supports the requirement in ISQM 2 for a firm to establish, as a condition for eligibility, a cooling-off period of two years before an engagement partner can assume the EQR role on the same engagement; and
• Emphasizes that this cooling-off requirement in ISQM 2 serves the dual objective of supporting compliance with the fundamental principle of objectivity and the  high quality of engagements.

The guidance may also apply in situations where, as a safeguard to address identified threats to compliance with the fundamental ethics principles, an individual is appointed as an appropriate reviewer for work performed.

The enhanced guidance will become effective December 2022.

Review the press release and revisions on the IESBA's website.

IOSCO’s Sustainability-related Issuer Disclosures report proposes a timeline for the ongoing work of the IFRS Foundation–with the ISSB climate standard expected to be completed by June 2022. Jurisdictions that begin engaging with policymakers now will be able to capitalize on the forthcoming standards–and therefore serve the public interest–as soon as they are finalized.

IFAC urges its member organizations to continue their support for the IFRS initiative, to engage now with local policymakers, and to provide feedback on the framework for making global sustainability standards local.

Review the following on the IFAC's website:

• How Global Standards Become Local
• Enhancing Corporate Reporting: Sustainability Building Blocks
• IFAC’s support for global sustainability-related standards