IESBA strengthens Global Ethics Standards to Respond to Transformative Effects of Technological Innovation
Apr 11, 2023
On April 11, 2023, the International Ethics Standards Board for Accountants (IESBA) released final revisions to the International Code of Ethics for Professional Accountants, including International Independence Standards (IIS), to further increase the Code’s robustness and expand its relevance in a world being fundamentally reshaped by rapid technological advancements and accelerating digitalization.
The revisions will guide the ethical mindset and behavior of professional accountants in both business and public practice as they take advantage of the opportunities created by technology and adapt to new technology. Developed to remain relevant and applicable in the ever-evolving landscape of technology transformation, the revisions apply to the use of any technology, including to the extent possible, future technologies.
The revisions to the IIS will be effective for audits and reviews of financial statements for periods beginning on or after December 15, 2024. The other revisions to the ethics provisions of the Code will be effective as of December 15, 2024. Early adoption is permitted.
Review the press release on IESBA's website.
