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Non-Assurance Services: Project Proposal. Caroline Gardner IESBA Member IESBA Meeting December 2012 New York, USA . Context. Independence I Independence II International Developments Public Interest Input Comments from 2008-9 & 2010-12 strategy consultations

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Non assurance services project proposal

Non-Assurance Services: Project Proposal

Caroline Gardner

IESBA Member

IESBA Meeting December 2012

New York, USA


Context
Context

  • Independence I

  • Independence II

  • International Developments

  • Public Interest Input

    • Comments from 2008-9 & 2010-12 strategy consultations

      • IOSCO recommends that the IESBA:

        • Makes use of its related study; and

        • Reconsider its provisions on non-assurance services

2


About the project
About the project

  • Project

    • Objective

      • Review non-assurance services provisions in the Code to ensure they continue to support a rigorous approach to independence for assurance services

    • Scope

      • Main priority: Non-Assurance Services Audit Clients

      • Lesser priority: Non-Assurance Services Other Assurance Clients

    • Focus includes:

3


Matters to consider
Matters to Consider

  • Matters to consider include:

    • Whether the Code’s “emergency exception” will be retained

    • Whether “materiality” is an appropriate basis for prohibitions

    • Whether management responsibilities include routine and administrative items

    • Whether and to what extent the following non-assurance services will be permitted, for e.g.:

4


Other considerations
OtherConsiderations

  • Process

    • 2 phases?

  • Timetable

    • ED Q2 2014, subject to decision re phased approach

  • Information/Relevant Sources

    • Existing NAS provisions in major jurisdictions

    • IOSCO survey

    • Firms

    • Academic research?

5


Discussion
Discussion

IESBA members are requested to provide their views on the following matters related to the project:

  • Objectives

  • Scope

  • Major issues to be addressed

  • Approach to project

  • Resource constraints

  • Other items

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