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IESBA re-exposes two ethics proposals

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

07 Jun 2008

The International Ethics Standards Board for Accountants (IESBA) has issued a re-exposure draft of proposals to strengthen the independence requirements contained in the IFAC Code of Ethics for Professional Accountants.

The re-exposure draft contains two key proposals:
  • The first would prohibit independent auditors from providing internal audit services related to internal controls, financial systems, or financial statements to an audit client that is a public interest entity.
  • The second proposal requires that an annual pre- or post-issuance review be conducted by a professional accountant who is not a member of the firm when the revenues from one public interest entity client exceed 15 percent of total firm revenue for two consecutive years.
Comment deadline is 31 August 2008. Click for Press Release (PDF 43k).

 

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