Search

Keyword Search

A summary list of the explicit prohibitions in the Code is provided below. This list details those provisions that contain a "shall not" statement and is a subset of the Requirements set out in the Code.  

A professional accountant is required to apply the principles-based provisions in the conceptual framework set out in Section 120 to identify, evaluate and address threats to compliance with the fundamental principles of ethics and, where applicable, to independence. These explicit prohibitions are the result of the IESBA applying that conceptual framework to certain situations and determining that threats to compliance with the fundamental principles are at a level at which actions or safeguards cannot be applied. Accordingly, the activity, interest or relationship is prohibited by the Code.  This list should not be viewed as all-inclusive because the application of the conceptual framework might result in the professional accountant concluding that the threats created by a particular situation can only be addressed by declining or ending the specific professional activity.

Some of these prohibitions apply to audits of entities that are public interest entities only.

 

90 Results for

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > SERVING AS A DIRECTOR OR OFFICER OF AN ASSURANCE CLIENT

R923.4

A partner or employee of the firm shall not serve as Company Secretary for an assurance client of the firm unless: This practice is specifically permitted under local law, professional rules or practice; Management makes all decisions; and The duties and activities performed are limited to those of a routine and administrative nature, such as preparing minutes and maintaining statutory returns. ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > SERVING AS A DIRECTOR OR OFFICER OF AN ASSURANCE CLIENT

R923.4

A partner or employee of the firm shall not serve as Company Secretary for an assurance client of the firm unless: This practice is specifically permitted under local law, professional rules or practice; Management makes all decisions; and The duties and activities performed are limited to those of a routine and administrative nature, such as preparing minutes and maintaining statutory returns. ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > EMPLOYMENT WITH AN ASSURANCE CLIENT

R924.4

If a former partner has joined an assurance client of the firm or a former assurance team member has joined the assurance client as: A director or officer; or An employee in a position to exert significant influence over the underlying subject matter or, in an attestation engagement, an employee in a position to exert significant influence over the subject matter information of the assurance engagement, the individual shall not continue to participate in the firm’s business or professional activities....

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > EMPLOYMENT WITH AN ASSURANCE CLIENT

R924.4

If a former partner has joined an assurance client of the firm or a former assurance team member has joined the assurance client as: A director or officer; or An employee in a position to exert significant influence over the underlying subject matter or, in an attestation engagement, an employee in a position to exert significant influence over the subject matter information of the assurance engagement, the individual shall not continue to participate in the firm’s business or professional activities....

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > LONG ASSOCIATION OF PERSONNEL WITH AN ASSURANCE CLIENT

R940.4

If a firm decides that the level of the threats created can only be addressed by rotating the individual off the assurance team, the firm shall determine an appropriate period during which the individual shall not: Be a member of the engagement team for the assurance engagement; Provide quality control for the assurance engagement; or Exert direct influence on the outcome of the assurance engagement. The period shall be of sufficient duration to allow the familiarity and self-interest threats to ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > LONG ASSOCIATION OF PERSONNEL WITH AN ASSURANCE CLIENT

R940.4

If a firm decides that the level of the threats created can only be addressed by rotating the individual off the assurance team, the firm shall determine an appropriate period during which the individual shall not: Be a member of the engagement team for the assurance engagement; Provide quality control for the assurance engagement; or Exert direct influence on the outcome of the assurance engagement. The period shall be of sufficient duration to allow the familiarity and self-interest threats to ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > PROVISION OF NON-ASSURANCE SERVICES TO ASSURANCE CLIENTS

R950.6

A firm shall not assume a management responsibility related to the underlying subject matter and, in an attestation engagement, the subject matter information of an assurance engagement provided by the firm. If the firm assumes a management responsibility as part of any other service provided to the assurance client, the firm shall ensure that the responsibility is not related to the underlying subject matter and, in an attestation engagement, the subject matter information of the assurance engagement provided by the ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > PROVISION OF NON-ASSURANCE SERVICES TO ASSURANCE CLIENTS

R950.6

A firm shall not assume a management responsibility related to the underlying subject matter and, in an attestation engagement, the subject matter information of an assurance engagement provided by the firm. If the firm assumes a management responsibility as part of any other service provided to the assurance client, the firm shall ensure that the responsibility is not related to the underlying subject matter and, in an attestation engagement, the subject matter information of the assurance engagement provided by the ...

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > REPORTS THAT INCLUDE A RESTRICTION ON USE AND DISTRIBUTION (ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS)

R990.8

When the firm performs an eligible assurance engagement, the firm shall not hold a material direct or a material indirect financial interest in the assurance client....

INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS > REPORTS THAT INCLUDE A RESTRICTION ON USE AND DISTRIBUTION (ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS)

R990.8

When the firm performs an eligible assurance engagement, the firm shall not hold a material direct or a material indirect financial interest in the assurance client....

« First « Previous 1 2 3 4 5 6 7 8 9

Did you find what you were looking for?

Yes No

Note About Available Versions

This version includes content that has been approved by the IESBA but is either not yet effective or has been superseded by a newer version. You are able to return to the extant version at any time by clicking on “Return to Extant Version” in the black bar at the top of any page.

I Understand

December 2021

You are now leaving the extant Code to view another version that contains passages that have either been superseded or that have been issued but are not yet effective.

This version of the eCode incorporates revisions to the Code to promote the role and mindset expected of professional accountants.

Revisions to the Code to promote the role and mindset expected of professional accountants will be effective as of December 31, 2021. Early adoption will be permitted



 

I Understand