Submission on IESBA’s Strategy Survey (2024-2027)
In brief
- CAANZ supports the IESBAs focus on sustainability reporting
- CAANZ continues to support principles based standards that raise the bar for all professional accountants
- CAANZ supports evidence based research for any proposed amendment or inclusion to the Code of Ethics for Professional Accountants (including Independence Standards)
The International Ethics Standards Board for Accountants (IESBA) called for submissions on their forward strategy for the period 2024-2027.
CAANZ is supportive of the IESBA’s proposed focus on sustainability reporting and assurance giving the growth in regulatory reporting requirements in this area. CAANZ supports the IESBA and the IAASB leading global debate in the formation of standards in sustainability reporting.
We continue to support a principles-based Code which addresses the behaviour of all professional accountants and therefore, we support the IESBA dedicating strategic focus to further raising the bar of ethical behaviour for Professional Accountants in Business (PAIBs).
CAANZ is supportive of consistency between standards issued by the International Audit and Assurance Standards Board (IAASB) and the IESBA. We believe collaboration between the Boards should be a rule of engagement and integral to the standard-setting process.
Given recent, comprehensive, and significant changes to the Code, particularly for audit and assurance engagements, we recommend that the IESBA allow the profession time to embed these changes before assessing whether further changes are required. We strongly support globally recognised, evidence-based research for proposing changes to the International Independence Standards (ISS).
