Proposed Sustainability Ethics Standard

Proposed Sustainability Ethics Standard

IESBA has issued a Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability Assurance and Reporting which was issued in January 2024. It establishes a third pillar of ethics, including independence, standards to complete the infrastructure of international standards being developed by other standard setters and regulators and support public trust in sustainability-related information. Comments are due May 10, 2024.

Proposed Ethics Interpretation: Fees

Proposed Ethics Interpretation: Fees

On March 15, 2023, the AICPA’s Professional Ethics Executive Committee (PEEC) issued an exposure draft relating to fees. The exposure draft includes new interpretations for determining fees for an attest engagement and new fee dependency interpretations, as well as a revised conceptual framework for independence interpretation and revised client affiliates interpretation. Comments are due by June 15, 2023.

Proposed Ethics Interpretation: Cheating in CPE

Proposed Ethics Interpretation: Cheating in CPE

The AICPA’s Professional Ethics Executive Committee (PEEC) has issued an exposure draft to make falsifying attendance records or sharing answers (when not permitted) in CPE an act discreditable to the profession. This expands the rules around sharing answers or requesting answers to the CPA Exam. Comments are due by May 15.

New Ethics Interpretation: Compliance Audits

New Ethics Interpretation: Compliance Audits

The AICPA’s Professional Ethics Executive Committee (PEEC) has issued a new ethics interpretation around Compliance Audits. The interpretation adds two new definitions and revises a third definition. In addition, several Q&As were added to provide context for the application of the independence rules for these engagements.