IESBA Announces Successful Completion and Approvals of Sustainability Exposure Draft and Tax Planning-related Ethics Standard

The International Ethics Standards Board for Accountants (IESBA) has completed and approved an Exposure Draft on Ethics and Independence Standards for Sustainability Reporting and Assurance, and the final Ethics Standard for Tax Planning and Related Services. Other major achievements include the approval of an Exposure Draft on the Use of Experts, and the IESBA’s Strategy and Work Plan for 2024-2027.

The IESBA approved the new International Ethics Standards for Sustainability Assurance (including International Independence Standards), and proposed revisions to the International Code of Ethics for Professional Accountants (the Code) on sustainability reporting. The IESBA also compiled a set of draft standards that will establish the essential third pillar of ethics, including independence, and standards to support public and corporate trust in sustainability-related information. The Exposure Draft will be released soon.

The IESBA’s 2024 agenda will focus on final approvals of the sustainability-related standards, and new work streams addressing accountancy firm culture and governance, and independence considerations.

More details can be accessed on the IESBA website:
https://www.ethicsboard.org/news-events/2023-12/iesba-announces-successful-completion-and-approvals-sustainability-exposure-draft-and-tax-planning