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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

6

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