Exposure Draft, Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants

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This Exposure Draft proposes revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) that promote the role and mindset expected of professional accountants.

Among other matters, the proposals:

• Highlight professional accountants’ wide-ranging role in society and the relationship between compliance with the Code and a professional accountant’s responsibility to act in the public interest;
• Include enhancements to the robustness of the fundamental principles of integrity, objectivity and professional behavior;
• Further strengthen the Code through requiring professional accountants to have an inquiring mind when applying the conceptual framework; and
• Highlight the importance of being aware of bias and having the right organizational culture.

Comments are requested by October 31, 2019.

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