This virtual workshop updated participants on the ongoing initiatives of the International Auditing and Assurance Standards Board (IAASB), the International Ethics Standards Board for Accountants (IESBA) and the International Federation of Accountants (IFAC) Small and Medium Practices (SMP) Committee over 2017. Participants also received insights into the priorities and future projects of the IAASB, IESBA and the IFAC SMP Committee.
Presentations were made by Megan Zietsman, Deputy Chair of the IAASB, Diane Jules, Deputy Director at IESBA, Gary Hannaford, recently retired IESBA member and Katharine Bagshaw, member of the IFAC Small and Medium Practices Committee and Chair of IAASB Rapid Response Task Force.
The past year has been rich with new and ongoing initiatives of the Independent Standard Setting Boards, including completion of a project to restructure the Code of Ethics for Professional Accountants by the International Ethics Standard Board (IESBA), revisions of standards by the International Auditing and Assurance Standards Board (IAASB), observations of the joint IAASB – IAESB – IESBA Professional Skepticism Group, launch of the IAASB Project Proposal on Emerging Forms of External Reporting and others. IFAC’s Small and Medium Practices (SMP) Committee has continued to develop and share resources on the implementation of the International Standards, and continued to advocate for, and build the capacity of SMPs globally.
Participants were able to connect remotely from Belgrade, Bucharest, Lagos, Philippines, Podgorica, Pristina, Sarajevo, Singapore, Skopje, Sofia, Tirana, the UK, Vienna and Yerevan.
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