Proposed Technology-related enhancements to Global Ethics Code

22 March 2022
Accounting
South African Accounting Academy

IESBA has taken firm action to respond to the transformative effects of technology, by releasing for public comment the highly-anticipated exposure draft proposing technology-related revisions to the IESBA Code. The proposals seek to enhance the IESBA Code’s robustness and expand its relevance in an environment being reshaped by rapid technological advancements.

The Exposure Draft seeks to enhance the Code’s robustness and expand its relevance in an environment being reshaped by rapid technological advancements. The pace of change in, and use of, technology has only accelerated during the COVID-19 pandemic and the proposed amendments will guide the ethical mindset and behaviour of professional accountants in business and in public practice as they deal with changes brought by technology in their work processes and the content of the services they provide.

The proposed revisions build on the role and mindset changes that became effective last December, and the revised NAS provisions that will become effective in December 2022.

Comments are due by 20 June 2022.

Click here to download the Exposure Draft:

https://www.ifac.org/system/files/publications/files/Proposed-Technology-related-Revisions-to-the-Code.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

Auditors and accountants have to adhere to the IESBA Code of Conduct.
This publication provides detail on some issues flowing forth from the recently Revised IESBA Code, and sets out the new proposed amendments and enhancement regarding technology-related issues.
The proposed amendments will guide the ethical mindset and behaviour of professional accountants in business and in public practice as they deal with changes brought by technology in their work processes and the content of the services they provide.
Adherence to the Code will assist with proper application of the ethical principles.

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