IESBA releases report on recent accomplishments

The International Ethics Standards Board for Accountants released a report on its accomplishments over the past four years in setting ethical standards around the world.

The report, released Wednesday, includes an update on the IESBA’s current projects and initiatives, along with the board’s efforts to promote awareness, adoption and implementation of IESBA’s International Code of Ethics for Professional Accountants and International Independence Standards.

The report also summarizes some of IESBA’s outreach activities to learn more from stakeholders about issues surrounding global ethics and public trust in the accounting profession.

“Ethics is the foundation on which public trust in the accounting profession is built,” said IESBA Chairman Stavros Thomadakis in a statement. “IESBA has been diligently focused on strengthening and enhancing the Code during the period covered by the report. The revised and restructured Code, which has been effective since June 2019, reflects these important enhancements. Our current work program builds on that strong foundation and includes projects to further strengthen the International Independence Standards.”

The report contains messages from the former chair of IESBA’s Consultative Advisory Group, Kristian Koktvedgaard, and the current chair, Gaylen Hansen, about the work of their group in advising IESBA on setting accounting ethics standards in the interests of the public.