Highlights from the IPSASB's December 4-7 meeting in Kuala Lumpur.

• 00:10 Welcome and introduction: John Stanford, Technical Director
• 00:56 Chair’s meeting overview: Ian Carruthers, IPSASB Chair
• 02:40 Social Benefits, Collective and Individual Services, and Emergency Relief: Paul Mason, Principal
• 04:20 Revenue (IFRS 15 Alignment) and Amendments to IPSAS 36 and IPSAS 41: Amon Dhliwayo, Manager
• 05:20 Grants and Transfers (Time requirements): Joanna Spencer, Manager
• 06:23 Leases: Joao Carlos Fonseca, Principal
• 07:34 Approval of Strategy and Work Plan: Ross Smith, Deputy Director
• 08:40 Chair’s concluding comments: Ian Carruthers, IPSASB Chair
• 11:05 Closing remarks: John Stanford, Technical Director

The global search for an exceptional individual to lead the International Auditing and Assurance Standards Board (IAASB) has been restarted and applications from qualified candidates around the globe are now being accepted.

The Chair leads the IAASB’s strategic direction and development of high-quality international audit standards, as well as facilitates the consultative processes that underpin the board’s credibility and activities. The Chair develops and maintains effective relationships with international oversight authorities and regulatory bodies, national standard setters, investor and preparer communities, the audit practitioner community and other key stakeholders.

The successful candidate has significant, senior-level experience and is well recognized within professional and regulatory communities. He or she has effective leadership, diplomacy, communication and strategic skills; demonstrated professional competency; and a strong commitment to the IAASB’s public interest mission. He or she also understands the significant travel commitment involved.

The IAASB Chair is appointed for a renewable three-year term, commencing May 1, 2019. A complete job description, along with application instructions, is available on the IAASB website. Applications are due January 31, 2019.

This global search is being conducted by the Interim Nominating Committee, which was formed in February 2018 to conduct the process for the next IAASB Chair. The search has recently restarted after the designated appointee decided not to assume the post for personal reasons. More information on the Committee is available online.

The latest edition of the handbook includes:

The International Ethics Standards Board for Accountants (IESBA) is pleased to advise the reappointment of Dr. Stavros Thomadakis as IESBA Chairman for a further one-year renewable term commencing 1 January, 2019.

Under Dr. Thomadakis’ leadership, the IESBA has completed a number of major projects, resulting in the revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards), which will become effective in June 2019. His dedication to high quality, fit-for-purpose ethics standards for the global accountancy profession is reflected in the ambitious strategy and work plan 2019-2023 just approved by the IESBA. 

“A robust, clear and future-ready Code of Ethics and a new 5-year strategy and work plan provide the IESBA with a solid platform and direction,” said Dr. Thomadakis.

“I look forward to continuing to work with board colleagues, IESBA staff and our global stakeholders to deliver on the plan’s priority projects in the public interest. I also remain committed to coordinating with the International Auditing and Assurance Standards Board. The relationship developed between the boards is working well and will help enhance the relevance and applicability of new standards issued by both”. 

About the IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA serves the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust globally operable International Code of Ethics for Professional Accountants (Including International Independence Standards).

The IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).

The structures and processes that support IESBA operations are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

About IFAC

IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.