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IESBA: New Handbook 2024 Edition now available
- 02 September 2024
- Ethics and Professionalism
- South African Accounting Academy
This 373-page handbook replaces the 2023 edition (which was published in October 2023) and incorporates the following:
- The revisions relating to the definition of a public interest entity which, among other matters, specifies a broader list of mandatory public interest entity categories, including a new category “publicly traded entity” to replace the category of “listed entity.”
- The revised public interest entity definition and related provisions will be effective for audits of financial statements for periods beginning on or after 15 December 2024.
- Changes to the definitions of “audit client” and “group audit client” in the Glossary arising from the approved revisions to the definitions of listed entity and public interest entity.
- The revised definitions will be effective for audits of financial statements and group financial statements for periods beginning on or after 15 December 2024.
- Technology-related provisions of the Code.
- The technology-related revisions to Parts 1 to 3 will be effective as of 15 December 2024.
- The technology-related revisions to Part 4A will be effective for audits and reviews of financial statements for periods beginning on or after 15 December 2024.
The back of the 2024 Handbook contains the IESBA-approved revisions to the Code addressing Tax Planning and Related Services, which will become effective after June 2025.
Access the Overview of Parts and Sections of The IESBA Code document at https://ifacweb.blob.core.windows.net/publicfiles/2024-08/Overview%20of%20Code%20-%202024.pdf
Click here to download the new 2024 IESBA Handbook:
Relevance to Auditors, Independent Reviewers & Accountants:
- As an accountant, auditor and independent reviewer, you need to comply with 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.
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