International Ethics Standards Board for Accountants
Encyclopedia
The International Ethics Standards Board for Accountants (IESBA) develops and promotes ethical standards and guidance for professional accountants. The IEASB also supports debate on issues related to accounting ethics
.
(IFAC).
The Public Interest Oversight Board
provides oversight, ensuring the IESBA standards are in the public interest.
Member bodies of the IFAC such as Institute of Chartered Accountants in England and Wales (ICAEW) and the other CCAB bodies must comply with the principles included in the IFAC Code of Ethics.
Thus the Institute of Chartered Accountants of Scotland
(ICAS) Code of Ethics is based on the IESBA Code of Ethics for Professional Accountants.
In 2010 the IESBA issued a revised Code of Ethics for Professional Accountants to be effective from 1 January 2011.
The IESBA also issued a revised, principles-based definition of what constitutes a network. The new definition covers the way a group of companies operate and present themselves, and is consistent with the Statutory Audit Directive.
Convergence of international and national ethical standards is a high priority for the IESBA, although progress in this area trails progress in adoption of other IFAC standards such as International Financial Reporting Standards
(IFAC).
Such convergence is of considerable importance when dealing with ethical issues involving multi-national companies.
However, the principles-based IFAC standards continue to differ in several respects from the more rules-based standards of the American Institute of Certified Public Accountants
(AICPA) maintained by its Professional Ethics Executive Committee.
Accounting ethics
Accounting ethics is primarily a field of applied ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting ethics were first introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and...
.
Organization
The IESBA is an independent standard setting body under the auspices of International Federation of AccountantsInternational Federation of Accountants
International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...
(IFAC).
The Public Interest Oversight Board
Public Interest Oversight Board
The Public Interest Oversight Board is an international body that oversees the International Federation of Accountants and seeks to improve the quality and public interest focus of the IFAC standards in the areas of audit, education, and ethics....
provides oversight, ensuring the IESBA standards are in the public interest.
Member bodies of the IFAC such as Institute of Chartered Accountants in England and Wales (ICAEW) and the other CCAB bodies must comply with the principles included in the IFAC Code of Ethics.
Thus the Institute of Chartered Accountants of Scotland
Institute of Chartered Accountants of Scotland
The Institute of Chartered Accountants of Scotland is the Scottish professional body of Chartered Accountants . It is a regulator, educator and influencer.ICAS act as a thought leader and voice of the professional business community...
(ICAS) Code of Ethics is based on the IESBA Code of Ethics for Professional Accountants.
Activities
The IESBA periodically issues revised standards.In 2010 the IESBA issued a revised Code of Ethics for Professional Accountants to be effective from 1 January 2011.
The IESBA also issued a revised, principles-based definition of what constitutes a network. The new definition covers the way a group of companies operate and present themselves, and is consistent with the Statutory Audit Directive.
Convergence of international and national ethical standards is a high priority for the IESBA, although progress in this area trails progress in adoption of other IFAC standards such as International Financial Reporting Standards
International Financial Reporting Standards
International Financial Reporting Standards are principles-based standards, interpretations and the framework adopted by the International Accounting Standards Board ....
(IFAC).
Such convergence is of considerable importance when dealing with ethical issues involving multi-national companies.
However, the principles-based IFAC standards continue to differ in several respects from the more rules-based standards of the American Institute of Certified Public Accountants
American Institute of Certified Public Accountants
Founded in 1887, the American Institute of Certified Public Accountants is the national professional organization of Certified Public Accountants in the United States, with more than 370,000 CPA members in 128 countries in business and industry, public practice, government, education, student...
(AICPA) maintained by its Professional Ethics Executive Committee.