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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. 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

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  1. Non-Assurance Services: Project Proposal Caroline Gardner IESBA Member IESBA Meeting December 2012 New York, USA

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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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