NEW YORK– The International Ethics Standards Board for Accountants (IESBA) issued on July 13, 2007, an exposure draft to strengthen three components of the independence requirements contained in the IFAC Code of Ethics for Professional Accountants (the Code).
In December 2006, as a result of a comprehensive review, the IESBA issued an exposure draft proposing revisions to the existing independence requirements contained in the Code. In that exposure draft, the IESBA indicated that first three areas the IESBA would revise in a future exposure draft.
The IESBA seeks to receive the comments from the professional accountants by October 10, 2007.
IAESB an independent standard-setting board within IFAC, develops standards and guidance on pre-qualification education, training, and continuing professional education and development for all members of the accountancy profession.
For more information please visit the following website: www.ifac.org