FEE appreciates the IAASB’s efforts to ensure consistency between its International Standards on Auditing (ISAs) and the recent IESBA proposals to amend the Code of Ethics on NOCLAR. Nevertheless, as a general principle, we think that the IAASB should avoid repeating the principles of the IESBA Code of Ethics in the ISAs and vice versa. We would also appreciate for the IAASB to weigh the burden for jurisdictions of continuously changing the clarified ISAs for limited amendments. In our response to the IAASB, we included our comment letter to IESBA on NOCLAR as not to re-iterate concerns that we previously stated.
FEE comments on the IAASB’s Exposure Draft: “Responding to Non Compliance or Suspected Non Compliance with Laws and Regulations”
IAASB Exposure Draft: “Responding to Non Compliance or Suspected Non Compliance with Laws and Regulations”