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Don Thomson - International Ethics Standards Board for Accountants
1. International Ethics Standards
Board for Accountants
Don Thomson, CA, IESBA Member
IFAC SMP Forum
Singapore
March 2012
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2. Global Ethics Standards
• Set out in IESBA Code of Ethics
• High quality ethical standards for use by professional
accountants around the world
• Public interest permeates
– Selection of Board members
– Transparency of debate
– Monitoring the Board
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3. SME and SMP needs
• Important component of IESBA strategy
• Input sought and welcomed
• Working Group formed to advise the Board
– Application of Code by professional accountants in SMEs and SMPs
– Individuals at last year's SMP Forum amongst those providing input
• Report provided to the Board
– Knowledge and understanding of the Code
– Safeguards
– Membership and processes
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4. IESBA attention to SMEs and SMPs
• Knowledge and understanding of the Code
– Preparing a synopsis of the Code
– Preparing guidance on the provision of accounting services to audit clients
• Safeguards
– Guidance will address the importance of management basing significant
judgments and decisions on an objective and transparent analysis and
presentation of the issues
• Membership and processes
– New member from an SMP; others with SME and/or SMP experience
– Reaching out to the SMP Committee and others
– Considering SME and SMP issues
• When planning new initiatives and when developing standards and guidance
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