This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFAC ethics proposals on auditor independence

  • IFAC (International Federation of Accountants) (lt gray) Image

30 Dec 2006

The International Ethics Standards Board for Accountants (IESBA) has issued an exposure draft proposing to update and strengthen the auditor independence requirements contained in the IFAC Code of Ethics for Professional Accountants.

Significant proposed modifications to the Code include:
  • extending the partner rotation requirements to all key audit partners on an audit of an entity of significant public interest;
  • updating requirements related to the provision of non-assurance services, including setting out additional guidance on the provision of tax services to audit clients;
  • providing guidance on key audit firm personnel accepting employment with audit clients that are entities of significant public interest; and
  • extending the independence requirements to the audits of a wider range of entities of significant public interest.
Comment deadline is 30 April 2007. Click for:


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.