international ethics standards board for accountants review and compilation engagements isabelle...
DESCRIPTION
Requirements –Practitioner complies with relevant ethical standards, including objectivity, professional competence and due care –Definition of relevant ethical standards consistent with ISAs –Reference in the report to compliance with IESBA Code of ethics Compilation EngagementsTRANSCRIPT
International Ethics Standards Board for Accountants
Review and Compilation Engagements
Isabelle Sapet
Paris June 2010
• IESBA discussed at February 2010 meeting
• IAASB discussed issues during June 2010 meeting, plans to approve exposure drafts in September 2010
Reviews and Compilation EngagementsProject Status
• Requirements
– Practitioner complies with relevant ethical standards, including objectivity, professional competence and due care
– Definition of relevant ethical standards consistent with ISAs
– Reference in the report to compliance with IESBA Code of ethics
Compilation Engagements
• Application guidance – In complying with the Code threats to
compliance with relevant ethical requirements are required to be identified and appropriately addressed
– Even though Code does not require independence national requirements may require independence or specify disclosure requirements
– Engagement letter – may indicate that independence is not required
Compilation Engagements
• Requirements
– Practitioner complies with relevant ethical requirements
• Application guidance
– Relevant ethical requirements include independence
Review Engagements