Comments invited on IESBA global standard on non-compliance
The International Ethics Standards Board for Accountants (IESBA, the Ethics Board) has released an enhanced standard for re-exposure.
The draft standard – Responding to Non-Compliance with Laws and Regulations – sets out a new framework to guide auditors and other professional accountants in deciding how best to act in the public interest when they come across an act or suspected act of "non-compliance with laws and regulations".
The proposed standard provides a "pathway" to disclosure to an appropriate authority in appropriate circumstances, without the accountant's duty of confidentiality acting as a barrier.
It also places renewed emphasis on the importance of senior-level professional accountants in business promoting a culture of compliance with laws and regulations within their organisations.
Comment on the exposure draft is invited by 4 September 2015.
The IESBA is an independent standard-setting board that develops and issues high-quality ethical standards and other pronouncements for professional accountants worldwide.