IESBA: Exposure Draft: Using the work of an external expert

IESBA: Exposure Draft: Using the work of an external expert

• 30 January 2024
• Sustainability Reporting
• South African Accounting Academy

The Exposure Draft on Using the Work of an External Expert proposes an ethical framework to guide professional accountants or sustainability assurance practitioners, as applicable, in evaluating whether an external expert has the necessary competence, capabilities and objectivity to use that expert’s work for the intended purposes. The proposals also include provisions to aid in applying the Code’s conceptual framework when using the work of an external expert.

This is one of 2 new exposure drafts that set forth the first comprehensive suite of global standards on ethical considerations in sustainability reporting and assurance.

Proposed standards aim to foster greater trust in all publicly communicated sustainability information by applying a consistent ethical approach.

Comments on the Using the Work of an External Expert ED are requested by 30 April 2024. The IESBA welcomes comments from the sustainability community – professional accountants, all other sustainability practitioners, regulators, and investors. 

IESBA will soon release fact sheets and other explanatory materials on this ED.

Click here to download the Exposure Draft:

https://ifacweb.blob.core.windows.net/publicfiles/2024-01/Using%20the%20Work%20of%20an%20External%20Expert.pdf

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 standards of the International Code of Ethics for professional accountants and approved exposure drafts that have been issued.

Relevance to Your Clients:

• None

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