Ethics developments: What to expect in 2024

Ethics developments: What to expect in 2024

• 05 January 2024
• Accounting
• South African Accounting Academy

At its December Board meeting, the International Ethics Standards Board for Accountants (IESBA)  voted to approve its Strategy and Work Plan for 2024-2027. Among other matters, the IESBA will tackle two new ambitious strategic areas of focus: accountancy firm culture and governance, and extending the impact of the Code beyond the accountancy profession, where it believes it can significantly expand reach and business impact.

Throughout 2023, the IESBA has responded vigorously to the challenges of ethics in the accountancy profession and beyond. The IESBA’s 2024 agenda will focus on final approvals of the sustainability-related standards, as well as on new workstreams addressing accountancy firm culture and governance, and independence considerations regarding the audits of collective investment vehicles, pension fund arrangements, and investment company complexes.

Click here to read more on the latest developments on the IESBA’s projects:

https://www.ethicsboard.org/news-events/2023-12/iesba-announces-successful-completion-and-approvals-sustainability-exposure-draft-and-tax-planning 

https://www.iaesb.org/consultations-projects

Relevance to Auditors, Independent Reviewers & Accountants:

• As an accountant, auditor and independent reviewer, you need to comply with the International Code of Professional Conduct.

• Failure to adhere to the Code may lead to disciplinary action.

• Auditors, Independent Reviewers and Accountants should be aware of the latest version of the IESBA handbook containing the International Code of ethics for Professional Accountants, as well as approved revisions and revisions not yet effective.

Relevance to Your Clients:

• None

0 COMMENTS

LEAVE A COMMENT