On 31 October 2019, CA ANZ made a submission to the International Ethics Standards Board for Accountants (IESBA) on its Exposure Draft: Proposed Revision to the Code to Promote the Role and Mindset Expected of Professional Accountants (ED) – see link below.
The Role and Mindset Project was set-up by IESBA to consider whether the concept of professional scepticism should be extended to apply to all Professional Accountants.
A summary of the proposed changes to the IESBA Code of Ethics that are included in the ED can be found in our previous article: IESBA Role and Mindset Project | Impact on NZICA Code of Ethics – see link below. Australian members should also refer to APESB commentary and submissions on the topic.
Overall, CAANZ supports the principle-based approach that IESBA has taken to this important topic and generally considers that issues raised by various stakeholders in previous rounds of consultation on this topic have been addressed in this ED.
CA ANZ also provided IESBA with responses to specific questions raised in the ED - see submission below. This included expressing reservations about whether the new concept of “an inquiring mind” has yet been appropriately named or adequately described. It also included requests for further guidance material on certain topics.
Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional AccountantsRead more
IESBA Role and Mindset project | Impact on NZICA Code of Ethics
A summary of the proposed changes to the IESBA Code of Ethics and the likely subsequent impact on the NZICA Code of EthicsRead more