About the Independence Standing Committee (ISC)
The ISC's responsibilities include:
- recommending for PTC approval and proposed adoption by the provincial bodies, future changes to maintain and renew the independence standards such that they are no less stringent than the requirements included in the International Ethics Standards Board for Accountants' (IESBA) International Code of Ethics for Professional Accountants (the IESBA Code) unless in respect of a particular provision it is prohibited by law or regulation or it is determined not to be in the public interest
- exposing for public comment in Canada the proposed changes to the Independence requirements of the IESBA Code, to invite comments on the technical content and whether there may be Canadian specific circumstances that would require a change to the IESBA Code proposal
Exposing proposed changes to the IESBA Code
The ISC exposes proposed changes to the IESBA Code to invite comments from Canadian stakeholders on:
The technical merit of proposed changes to the Independence requirements in the IESBA Code, for consideration by the profession's PTC in preparing its response to IESBA on behalf of the Canadian CPA profession
Canadian-specific circumstances of a legal, regulatory, or public interest nature that should be considered with respect to the IESBA proposals, to assist the ISC in recommending changes to maintain and renew Rule 204, Independence, such that it is no less stringent than the IESBA Code
Read the ISC's current invitations to comment on the IESBA's proposals
ISC invitation to comment on the IESBA Exposure Draft, Proposed Technology-related Revisions to the Code.
Comments to the IESBA on its Exposure Draft, Proposed Technology-related Revisions to the Code, must be received by June 20, 2022.
ISC invitation to comment on the IESBA Exposure Draft, Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits.
Comments to the IESBA on its Exposure Draft, Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits, must be received by May 31, 2022.
Resources
The IESBA invites you to join its upcoming webinar on April 5, 2022 at 7:00 am EST on its recently released exposure draft, Proposed Technology-related Revisions to the Code.