The International Federation of Accountants (IFAC) has adopted the 2021 edition of the International Code of Ethics for Professional Accountants, including the International Independence Standards, issued by the International Ethics Standards Board for Accountants (IESBA). This 2021 edition contains the following revisions:
- Revisions to Part 4B of the Code. The revisions to Part 4B aligned terms and concepts used in the Code to those in the International Auditing and Assurance Standards Board’s (IAASB) International Standard on Assurance Engagements (ISAE) 3000 (Revised). Those revisions became effective in June 2021.
- Revisions to promote the role and mindset expected of professional accountants. The revisions to Parts 1 and 2 are to promote the role and mindset expected of professional accountants. Those revisions became effective in December 2021.
- Approved revisions which have been included in the back of the Handbook and became effective in December 2022 and include:
- Revisions to the Code addressing the objectivity of an engagement quality reviewer and other appropriate reviewers.
- Revisions to the non-assurance services provisions of the Code.
- Revisions to the fee-related provisions of the Code.
Attached is the pdf copy of the following documents and the related links: