To review the non-assurance services provisions in Sections 290 and 291 of the Code to ensure that they continue to support a rigorous approach to independence for assurance services, particularly audits of financial statements.

Objective

To identify and recommend to the Board ways to improve the clarity and usability of the Code, thereby facilitating its adoption, effective implementation and consistent application.

The project explores issues with the current definition of Government Business Enterprises (GBEs) and considers whether the current accounting requirements are appropriate. The initial output will be either a Consultation Paper or an Exposure Draft. The ultimate output may be revisions to existing IPSASs.

The IESBA handbook contains the entire Code of Ethics for Professional Accountants, effective January 1, 2011. The 2013 edition includes the three final pronouncements—addressing a breach of a requirement of the Code, conflicts of interest, and the definition of "engagement team"—published in March 2013 (effective dates in 2014). It replaces the 2012 edition of the IESBA handbook.

The handbook is available in print for US $60.00 (plus shipping & handling). Order print copies using the Purchase button.

Objective

The objective of the project is to review Part C to ensure that its provisions remain appropriate and are robust.

IFAC CEO Fayez Choudhury speaks with Michael Cohn of accountingTODAY.com on:

• His priorities and direction for IFAC 
• IFAC's succession plan
• The role of the profession in the developing world
• IFAC's big tent covering small practices to large firms
• The accountant's role in preventing a future financial crisis

This Executive Summary of Evaluating and Improving Internal Control in Organizations is part of the International Good Practice Guidance series. The condensed version summarizes the principles and the importance of effective systems of internal control, as well as explains some of the pitfalls that can be avoided.