1 / 10

Structure of the Code

Structure of the Code. Don Thomson, Working Group Chair and IESBA Member IESBA CAG Meeting April 10, 2013 New York. Background. February 2012: How to improve structure of Code to raise the visibility of its requirements and prohibitions, and clarify who is responsible for meeting them

latif
Download Presentation

Structure of the Code

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Structure of the Code Don Thomson, Working Group Chair and IESBA Member IESBA CAG Meeting April 10, 2013 New York

  2. Background • February 2012: How to improve structure of Code to raise the visibility of its requirements and prohibitions, and clarify who is responsible for meeting them • June 2012: An example of a possible reformatting approach. Additional clarity steps should be considered • December 2012: Briefly discussed aspects of this initiative and supported establishment of the Working Group (WG)

  3. Proposed WG Terms of Reference • Limited to brief agreed in February 2012, visibility and responsibility, or extended to clarity and understandability? • Propose: Scope of initiative should address broader matters of clarity and usability • Changes to enhance clarity and usability may impact interpretations • Consider whether any changes would be better handled by separate projects

  4. Short Term Initiatives • Enhance accessibility • Without changing standards • Develop examples: • Highlighting • Summaries • Hyperlinks

  5. Responsibility • Increase visibility of responsibilities in the Code • May require formal project proposal • Determine importance and urgency

  6. Research leading to longer term • Barriers to adoption • Complexity and translation • Usability by SMPs and PAIBs • Consistency of interpretation • For possible longer term comprehensive review • If sufficiently important and urgent, may warrant ST initiative

  7. Research Plan • IFAC member bodies, in conjunction with CAP • Regulators • IESBA CAG • NSS liaison group • Firms • IFAC SMP Committee • IFAC PAIB Committee

  8. Proposed Timeline • September 2013: A status report, including examples of ST initiatives • December 2013: A preliminary report on research findings • March 2014: Results of short term initiatives and preliminary research findings and recommendations for further action • Consider Consultation Paper

  9. Matters for IESBA CAG Consideration CAG representatives are asked for views on the: • Short term and longer term initiatives • WG’s initial status report • WG’s draft Terms of Reference

More Related