LATEST UPDATE

IESBA Releases Guide on Proportionality of the IESBA Code

A new staff publication, titled ‘Proportionality of the IESBA Code’ explains how proportionality is built into the IESBA Code, available on:

https://www.ethicsboard.org/publications/iesba-staff-publication-proportionality-iesba-code

The guide was designed to support small and medium practices (SMPs) applying the Code with confidence, and was presented at the EFAA Annual Conference in Dublin as part of IESBA’s SMP engagement.

The publication is meant to underscore that while ethics is not proportionate, the Code is. Every professional accountant is required to uphold the same five fundamental principles: integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. The same proportionate approach is applied to independence for professional accountants and firms in an audit or assurance context.

The publication explains how these proportionality mechanisms work in practice.

With the release of the guide, the IESBA reaffirms its broader commitment to supporting the adoption and implementation of the Code.