New ethics code for accountants

Posted 4/12/2018

The International Ethics Standards Board for Accountants has published a new Code of Ethics, a revised framework for professional accountants to use to identify, evaluate, and address threats to compliance with the fundamental principles and independence. The new code, effective June 2019, offers revised “safeguards” provisions designed to be better aligned to threats to compliance, stronger independence provisions regarding long association of personnel with audit clients, and new guidance to emphasize the importance of understanding facts and circumstances when exercising professional judgment.

Journal of Accountancy