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IESBA: Using the work of an external expert – Technical Overview
- 27 February 2025
- Ethics and Professionalism
- South African Accounting Academy
Summary:
The International Ethics Standards Board for Accountants® (IESBA®) has published a Technical Overview document on Using the work of an External Expert.
Article:
This summary provides a technical overview of the International Ethics Standards Board for Accountants' (IESBA) pronouncement Using the Work of An External Expert.
The pronouncement introduces new sections in Parts 2 and 3 of the International Code of Ethics for Professional Accountants (including International Independence Standards)™ (the Code), and a section in the International Ethics Standards for Sustainability Assurance (including International Independence Standards)™ (IESSA™) (Part 5 of the Code).
The following new sections have been added to the Code:
- Section 290 – Using the Work of an External Expert for PAIBs
- Section 390 – Using the Work of an External Expert for PAPPs
- Section 5390 – Using the Work of an External Expert for SAPs
You can access the Using the Work of an External Expert final pronouncement at https://ifacweb.blob.core.windows.net/publicfiles/2025-01/Using%20the%20Work%20of%20an%20External%20Expert%20-%20Final%20Pronouncement_1.pdf
Click here to download the 6-page Technical Overview document:
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 standards of the International code of ethics for professional accountants, as well as supplementary educational material that have been issued.
- This ethics pronouncement will provide a principle-based framework to guide the ethical behaviour of PAIBs, PAPPs and SAPs when using the work of an external expert.