April 9, 2019
Published: IFAC- IESBA
The International Ethics Standards Board for Accountants (IESBA) today released its Strategy and Work Plan, 2019-2023. Titled Elevating Ethics in a Dynamic and Uncertain World, the publication describes the board’s strategy and priorities toward the setting of high-quality, future-ready ethics standards for professional accountants that are widely adopted around the world.
Building on the newly revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) which will come into effect in June 2019, the IESBA’s Strategy features three inter-related strategic themes:
– Advancing the relevance and impact of the Code, through maintaining a global Code fit for purpose in the evolving environment, and further raising the bar on ethics;
– Deepening and expanding the Code’s influence, through increasing global adoption and effective implementation of the Code; and
– Expanding the IESBA’s perspectives and inputs, through proactively engaging and seeking cooperative avenues with stakeholders.
Supporting the achievement of these strategic themes is a comprehensive and ambitious Work Plan. The Plan outlines commitments, priorities, planned actions of the Board and key milestones, including continued strong coordination with the IAASB as and where needed.
“This new Strategy and Work Plan embodies our clear determination to pursue global public interest objectives and outcomes, underpinned by our firm belief in the centrality of Ethics and in a unified Code for all professional accountants,” said IESBA chairman Dr. Stavros Thomadakis, adding, “The priorities and actions in the SWP have been calibrated to safeguard the relevance of the Code in an era of changing technologies, business methods and public expectations, and to reinforce its role as a linchpin of public trust in the profession.”
The development of the Strategy and Work Plan was informed by broad-based stakeholder input over the last two years, including a survey of stakeholders and a public consultation paper.