International Ethics Standards Board for Accountants (IESBA)

🤝 IESBA Global Outreach - December 2024🤝 This week, IESBA Chair Gabriela Figueiredo Dias represented the Global Ethics Standard Setting Board at the European Commission's Platform for Good Tax Governance in #Brussels. Ms. Dias shared insights on IESBA’s groundbreaking Tax Planning Standard and its role in promoting ethical behavior, transparency, and accountability in the provision of #taxplanning services. Learn more about the standard here: https://lnkd.in/dv4dkxtP   The Platform for Good Tax Governance consists of tax professionals and expert representatives of businesses and civil society organisations. It enables a structured dialogue and exchange of expertise which can feed into a more coordinated and effective EU approach against tax evasion and avoidance. #Ethics isn’t just a concept—it’s the foundation of trust in tax governance. By setting clear global standards, we empower professionals to act as gatekeepers of integrity and ensure tax planning serves the #publicinterest.

✨ Now effective! - Two IESBA global standards to strengthen the accountancy profession ✨   On December 15, 2024, two IESBA Final Pronouncements came into effect:   ✔ Revised Definitions of Listed Entity and Public Interest Entity (PIE) ✔ Technology-Related Revisions to the Code   The revised PIE provisions specify a broader list of categories of entities as PIEs whose audits should be subject to additional independence requirements to meet stakeholders’ heightened expectations concerning auditor independence when an entity is a PIE.   The Technology revisions are designed to strengthen ethical principles for accountants, addressing the challenges and opportunities of a rapidly evolving digital world.   Learn more about these important updates at ethicsboard.org.   #Ethics #Accounting #Technology #PublicInterest #IESBACode

✨ The Countdown is On! ✨   In just three days, on December 15, 2024, the Revised Definitions of Listed Entity and Public Interest Entity (PIE) in the International Code of Ethics for Professional Accountants take effect!   The revised provisions specify a broader list of categories of entities as PIEs whose audits should be subject to additional independence requirements to meet stakeholders’ heightened expectations concerning auditor independence when an entity is a PIE.   Discover how these updates support ethical practices listed entities and public interest entities here: https://lnkd.in/ef34wVMK   #Accounting#PIE #publicinterest #IESBACode

Thank you, Paul Munter, Chair of the Monitoring Group for your support of IESBA's recent approval of global ethics and independence standards related to the reporting and assurance of sustainability-related information. Learn more about IESBA's recent milestone vote here: https://lnkd.in/egC_mEaw

✨ Key Milestones from IESBA’s December Meeting ✨   The IESBA concluded its December 2024 meeting with significant progress on global ethics standards:   ✔ Approval of international ethics standards for sustainability reporting and assurance (#IESSA) - landmark standards establishing a global benchmark for ethical behavior and independence in sustainability.   ✔ Approval of provisions for Using the Work of an External Expert and related consequential amendments to the Code, establishing clear guidance for evaluating the competence, capabilities, and objectivity of external experts.   The Board also advanced a new project on firm culture and governance, focused on ethical leadership within accounting firms, and bid farewell to two esteemed members, Laurie Endsley and Andy Mintzer, whose dedication has shaped the IESBA’s mission.

🚨 Breaking News 🚨   The IESBA Board has approved landmark ethics standards for sustainability reporting and assurance and revisions to the Code on the use of experts!   These new global standards address critical challenges in sustainability reporting and assurance, including ethical risks like conflicts of interest, pressure, and bias leading to #greenwashing. The International Ethics Standards for Sustainability Assurance (IESSA) and related revisions provide a robust ethical and independence framework to protect investors, consumers, and society against misleading sustainability information and illicit financial flows hiding behind “green” objectives. The Use of Experts revisions establish clear guidance for assessing the competence, objectivity, and capabilities of external experts, ensuring reliable and trustworthy contributions to sustainability assurance.   This milestone reflects the IESBA’s commitment to integrity, transparency, and trust in sustainability.   Stay tuned for the global launch in early 2025, following certification by the Public Interest Oversight Board | PIOB. This will coincide with the release of the International Auditing and Assurance Standards Board (IAASB)’s ISSA 5000, completing the global infrastructure for sustainability reporting and assurance. Learn more at ethicsboard.org. Like. Share. Engage.   #Ethics #Sustainability #IESBACode #EthicsInSustainability #IESBA

✨ IESBA December Meeting Update ✨ Earlier today, the IESBA held the first session of its December meetings in New York. Chair Gabriela Figueiredo Dias opened with reflections on the Board’s recent progress and global outreach efforts since September. The first day centered on #sustainability, with presentations and discussions on the draft International Ethics Standards for Sustainability Assurance (IESSA) and related revisions to the #IESBACode. The Board looks to finalize and approve these standards later this week. The sustainability discussions continue tomorrow with a focus also on revisions to the Code to the address the use of external experts. Later in the week the Board will focus on other key projects including firm culture and governance, Public Interest Entities (PIEs), and Adoption and Implementation (A&I). Stay tuned for updates throughout the week as the Board progresses on these significant initiatives. On Tuesday, the Board will start at 9 am ET. 📺 Follow live meetings on YouTube: https://lnkd.in/eCb8KAGr #Ethics #IESBA #Sustainability #Governance #Accounting

IFEA Mourns the Loss of Imran Vanker, IRBA Director of Standards and IAASB Member 2016-2021 It is with profound sadness that IFEA announces the passing of Imran Vanker, a valued member of the IFEA family. We extend our deepest condolences to his family and friends following the tragic and sudden loss of Imran and his daughter yesterday. Our hearts go out to their loved ones during this unimaginable time. Imran was a member of the IAASB from 2016 to 2021 and, through his work at the Independent Regulatory Board for Auditors (IRBA) in South Africa, remained an esteemed colleague and member of the IAASB community. His passing, alongside that of his daughter, leaves an irreplaceable void. Imran was a staunch supporter of IESBA, actively participating as a member of the IESBA-National Standard Setters liaison group. His commitment to ethical behavior was demonstrated through his inspiration and significant contributions during his years of service. “Imran will be remembered not only for his many contributions to the audit profession but also for the warmth and goodwill he brought to all IAASB discussions. Imran had a passion for serving the public interest, one that will be hard to replicate,” said Tom Seidenstein, IAASB Chair. ‘’Imran was a friend of the IESBA and a passionate advocate for ethics and integrity in the accounting profession. Imran’s legacy of ethical leadership will continue to guide us, and his memory will remain a source of inspiration for all who strive to uphold the highest standards in our work,” said Gabriela Figueiredo Dias, IESBA Chair. As an organization, we share in the sorrow of this loss and are keeping the Vanker family in our thoughts. We will continue to honor their memory during this difficult time.

✨ Mark Your Calendar! ✨ On December 15, 2024, the Technology-Related Revisions to the #IESBACode take effect! These revisions are designed to strengthen ethical principles for accountants, addressing the challenges and opportunities of a rapidly evolving digital world. Discover how these updates support ethical practices in the digital age: https://lnkd.in/gEjgD8D3 #Ethics #Accounting #Technology #IESBACode #DigitalTransformation #ethicsintechnology

🌍✨ Gabriela Figueiredo Dias Reappointed as Chair of IESBA ✨🌍 The International Ethics Standards Board for Accountants (#IESBA) proudly announces the reappointment of Gabriela Figueiredo Dias for a second term as Chair, beginning January 1, 2025, through December 31, 2026. (read the release: https://lnkd.in/e9d5JEFi) Since taking the helm in 2022, Gabriela has been a driving force behind transformative changes to the IESBA Code of Ethics, strengthening its global relevance and addressing pressing issues like: ✅ #Sustainability: Pioneering ethics and independence standards to support sustainability reporting and assurance. ✅ #TaxPlanning: Introducing ethics aspects to tax-related services. ✅ Technology: Tackling the impact of tech on accounting and assurance. ✅ Auditor Independence: Enhancing standards for group audits. Her leadership comes at a pivotal time, as IESBA advances its bold 2024-2027 Strategy and Work Plan, focusing on culture and governance of firms, expanding the Code’s scope, and addressing auditor independence and CFO roles. 🎙️ Gabriela on her reappointment: "Ethics is not optional; it is the bedrock of the accountancy profession and public trust. I look forward to continuing our ambitious work to meet the evolving ethical challenges of today’s world." Join us in congratulating Gabriela on her reappointment! 🎉 Like. Share. Engage. #EthicsInAction #GlobalEthics #Leadership #Sustainability #PublicTrust