- The 5th edition of the popular member resource the Independence Guide is reissued
- The Guide reflects all the recent changes to the Code of Ethics for Professional Accountants
- Highly practical - almost fifty independence scenarios
In collaboration with the Accounting Professional & Ethical Standards Board Limited (APESB), CPA Australia and the Institute of Public Accountants we are pleased to advise that the Independence Guide – Fifth Edition (the Guide) has been updated and re-issued.
The Guide has been one of the most downloaded member resources for many years. This 5th edition has been updated to reflect the revisions to the Code of Ethics for Professional Accountants (including Independence Standards) that came into effect for members on 1 January 2020. The revisions to the Code, which is mandatory for audits and reviews in Australia, make auditor independence requirements stronger, clearer, and more enforceable by regulators and monitoring bodies. The Guide will assist members comply with these requirements.
The guide contains:
- application of the enhanced conceptual framework in the restructured Code to independence for audits, reviews and other assurance engagements as set out in Parts 4A and 4B of the restructured Code.
- provides a wide range of independence issues encountered by accountants and auditors, including prohibited non-assurance services, interests, relationships and actions. The application of the enhanced conceptual framework now prohibits some services that were previously permitted.
- practical examples and scenarios to guide auditors in understanding their independence obligations under the Code.
The Guide has been prepared with valuable contributions from CA ANZ members, regulators, standard-setting bodies and other professional associations.