Consultations & Projects

Accounting Professional & Ethical Standards Board Limited (APESB) proposes revisions to APES 110 Code of Ethics for Professional Accountants (including Independence Standards) to promote the Role and Mindset expected of Professional Accountants.

Feedback on the proposed changes should be received by the APESB no later than 1 February 2021.

Accounting Professional & Ethical Standards Board Limited (APESB) proposes to amend APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (“the Code”) to incorporate changes to Part 4B of the Code made by the International Ethics Standards Board for Accountants (IESBA) to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the International Code). These changes make the provisions in Part 4B consistent with the revised assurance terms and concepts in Standard on Assurance Engagements (ASAE) 3000 (Revised) Assurance Engagements Other than Audits and Reviews of Historical Financial Information, which is the equivalent of ISAE 3000 (Revised), which is issued by the Auditing and Assurance Standards Board.

Key revisions to Part 4B of the Code include amendments to requirements and application paragraphs to reflect the two types of assurance engagements, attestation engagements and direct engagements, which are referred to in auditing and assurance standards. These amendments clarify the independence requirements for attestation engagements and amend the definition of an Assurance Engagement.

The project is now complete and the Amending Standard was issued on 30 September 2020 with an effective date of 1 July 2021.

This project aims to build an understanding of how Artificial Intelligence and Digital Technology is being used by professional accountants and to determine whether additional professional and ethical obligations or guidance is required in this area to assist professional accountants.

This project aims to review APES 230 Financial Planning Services to ensure that it remains appropriate in the midst of the significant developments, including legislative and regulatory changes, that have occurred and are ongoing in the financial services industry.

This project aims to review APES GN 30 Outsourced Services and its use and effectiveness in public practice.

This project aims to clarify how the new whistleblowing legislation interacts with the professional and ethical obligations of professional accountants set out in APESB pronouncements.