IFAC SMP Committee Response to IESBA Exposure Draft: Non-Assurance Services for Audit Clients
The SMP Committee submitted this comment letter to the International Ethics Standards Board for Accountants in response to their Exposure Draft, Proposed Changes to Certain Provisions in the Code Addressing Non-Assurance Services for Audit Clients.
IFAC
Proposed Changes to Certain Provisions of the Code Addressing the Long Association of Personnel with an Audit or Assurance Client
The proposals in the Exposure Draft respond to stakeholder concern about the appearance of independence and the need to ensure that the threats created by the long association of audit firm personnel with an audit client are appropriately addressed on all audit engagements.
The proposals aim to strengthen the independence provisions in the Code of Ethics for Professional Accountants (the Code). Among the proposed changes are:
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