During this webinar, the IESBA’s Deputy Chair and Fees Task Force member, Ms. Caroline Lee and IESBA member and the Fees Task Force Chair, Mr. Ian McPhee will explain the key changes to the fee-related provisions of the Code. The revisions, which can be found here, will come into effect in December 2022.
2:00 PM–4:00 PM GMT / 3:00 PM–5:00 PM CEST
Event Overview:
ICGFM, the World Bank, Gavi, and the Global Fund are jointly hosting a virtual event to share information and facilitate an active discussion among public financial management professionals, and those responsible for resourcing, overseeing, and ensuring COVID-19 response and vaccine delivery.
The International Federation of Accountants (IFAC) welcomes the work of the World Economic Forum’s (the “Forum”) Unifying Framework, published today, for the important added visibility it provides in the fight against financial crime from a cross-sectoral perspective.
The release of the Forum’s report today is a significant step in raising awareness about the good work of gatekeepers – individuals including accountants, bankers and lawyers – who work to prevent or interrupt financial crime, and particularly money laundering, illicit financial flows, and corruption. By endorsing this work, IFAC hopes that we can inspire other gatekeeper professions to adopt ethical frameworks on par with the International Ethics Standards Board for Accountants’ (IESBA’s) International Code of Ethics for Professional Accountants (the Code), the gold standard for ethical behavior.
Kevin Dancey, CEO of IFAC, said, “This new report by the Forum is broadly aligned with the long-standing principles of the Code, which governs the conduct of approximately 3 million professional accountants, defined as those who are members of one of the 180 professional accountancy organizations (PAOs) around the world recognized by IFAC. We encourage other gatekeeper professions across all sectors to look to the Code as a model.”
Endorses the World Economic Forum’s Unifying Framework
For professional accountants, mental health issues heighten the risk of not identifying errors in financial reports or spotting indicators of fraud. In this recent article, Russell Guthrie, CFO of the International Federation of Accountants (IFAC) expressed this opinion.
The Financial Reporting Council (FRC) has announced it will be holding an international conference in June entitled Audit Firm Culture: Challenge. Trust. Transformation. The conference will explore the link between audit firm culture and audit quality with the objective of accelerating the pace of change for cultural transformation in the audit profession.
