More changes mooted for auditors’ code of conduct

Proposed amendments to the international code of ethics for professional accountants have been released in the form of an exposure draft for comment by 26 June 2019, CompliNEWS contributor Pam Saxby reports. This is noting that the Independent Regulatory Board for Auditors has adopted the international code and that, once finalised, the amendments mooted will be incorporated into its revised code of professional conduct.

Focusing on ‘independence for assurance engagements’ other than those undertaken for audit and review purposes, the proposals include changes in key terminology; ‘enhanced and clarified independence requirements for attestation engagements; and ‘simplified guidance on assurance engagements’. This is according to an accompanying memorandum. They also seek to clarify the types of assurance engagement addressed in the relevant section of the international code.