IESBA Exposure Drafts

The International Ethics Standards Board for Accountants (IESBA) issued two exposure drafts in January 2024:

• The exposure draft on the new International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA), and proposed revisions to the International Code of Ethics for Professional Accountants on sustainability reporting. This exposure draft proposes to establish the essential pillar of ethics, including independence, standards to support public and corporate trust in sustainability-related information, alongside sustainability reporting and assurance standards. The exposure draft is open for comment until May 10, 2024. Access IESBA’s webpage for webinar and other resources.
• The exposure draft on ‘Using the Work of an External Expert’ proposes ethics provisions addressing the use of external experts by professional accountants in business, as well as in public practice in the context of audit and assurance engagements, including sustainability assurance engagements. The proposed new section and consequential amendments will help professional accountants and sustainability assurance practitioners meet public expectations concerning ethical considerations when using external experts, including in an audit or assurance context. Comments are requested by April 30, 2024.