Within the SWP, the IESBA has identified two high-priority strategic areas of focus, namely:

• Accounting firm culture and governance, which seeks to identify potential actions the IESBA might take within or outside the Code to respond to the persistent high-profile cases of unethical behaviour in accounting firms.
• Exploring the opportunity to extend the impact of the Code beyond the accountancy profession to a broader array of individuals who perform similar work as professional accountants, building on its current project to develop profession-agnostic ethics, including independence, standards for all sustainability assurance practitioners. Among other matters, this will include a new workstream to explore expanding the scope and applicability of the Code beyond professional accountants to all preparers of sustainability information.

The SWP also emphasizes the need to monitor the impact of rapid technological changes on the services provided by professional accountants, determining whether further standard-setting or actions are required in the public interest. Furthermore, it underscores the commitment to closely collaborate with the International Auditing and Assurance Standards Board (IAASB) and other standard-setters to ensure seamless interoperability between different standards.

The SWP represents the culmination of careful assessment of market developments and thoughtful consideration of stakeholder feedback from the IESBA’s extensive outreach and consultation activities over a two-year period.

Access the press release and the SWP on the IESBA’s website.