Exposure Drafts Open for Comment

APESB proposes to revise APES 110 Code of Ethics for Professional Accountants (“the Code”) to align it with the revised Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA) in July 2009. The proposed revised APES 110 will supersede the existing APES 110 Code of Ethics for Professional Accountants and is currently at the exposure draft stage, with comments invited by 15 October 2010.

Under the proposed standard APES 230 Financial Advisory Services, which is effective from 1st July 2011, members of Australia’s three professional accounting bodies who are financial planners must only charge clients on a legitimate fee for service basis.  APES 230 will supersede the existing APS 12 Statement of Financial Advisory Standards and is currently at the exposure draft stage, with comments invited by 15 September 2010. 

APESB has extended the deadline to 15 October 2010.