2015 Edition of Code of Ethics for Professional Accountants

The IESBA has published the 2015 IESBA Handbook which contains the entire Code of Ethics for Professional Accountants. This handbook replaces the 2014 edition of the Handbook of the Code of Ethics for Professional Accountants.

The 2015 edition of the handbook contains the following changes to the Code addressing certain non-assurance services provisions for audit clients in Section 290 :

• The exception provisions (paragraphs 290.171 and 290.183) that permit an audit firm to provide certain bookkeeping and taxation services to public interest entity audit clients in emergency or other unusual situations have been withdrawn
• The provision addressing management responsibility have been strengthened, with additional guidance and clarification provided regarding what constitutes management responsibility
• The guidance regarding the concept of “routine or mechanical” services relating to the preparation of accounting records and financial statements for audit clients that are not public interest entities has been enhanced and clarified

Corresponding and conforming changes have been made to Section 291 of the Code with respect to assurance clients.

The changes will be effective on April 15, 2016, except for the changes to Section 290, which will be effective for audits of financial statements for periods commencing on or after April 15, 2016. Early adoption is permitted.

Click here to access the Code.