PAIB Committee Response to the IESBA Exposure Draft on Proposed Changes to the Code of Ethics for Professional Accountants Addressing Responding to Non-Compliance with Laws and Regulations

TheIFAC Professional Accountants in Business (PAIB) Committee sees the Exposure Draft from IESBA as a significant improvement over the original Exposure Draft (Proposed Changes to the Code of Ethics for Professional Accountants Addressing Responding to a Suspected Illegal Act) in August 2012 and believe it addresses many of the significant concerns we raised in our previous response.

However, the Committee offers additional perspectives and suggestions to the revised proposed changes, including clarifying the need for the proposed changes, clarifying the meaning of "becoming aware" of possible non-compliance, and more.