IESBA Staff Q&A: Revised Non-Assurance Services Provisions of the Code

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This Questions and Answers (Q&A) publication is issued by the Staff of the International Ethics Standards Board for Accountants® (IESBA®). It is intended to assist national standards setters, IFAC member bodies and professional accountants (PAs) in public practice (including firms) as they adopt and implement the revisions to the non-assurance services provisions of the IESBA International Code of Ethics for Professional Accountants (including International Independence Standards)™ (the Code). The IESBA issued the non-assurance services pronouncement in April 2021.

The publication complements the Basis for Conclusions for the final NAS pronouncement and is intended to assist national standards setters, professional accountancy organizations, and professional accountants in public practice as they adopt and/or implement the revised NAS provisions. The Q&As will also assist other stakeholders, including regulators and audit oversight bodies, those charged with governance, investors, preparers, and academics and other educators better understand the key changes to the NAS provisions of the Code. These changes include the new requirements and guidance that:

• Prohibit a firm or a network firm from providing a NAS that might create a self-review threat to an audit client that is a public interest entity.
• Explain how firms are to determine when a self-review threat to independence might be created, including in relation to providing advice and recommendations to an audit client.
• Are relevant in applying the Code’s conceptual framework to identify, evaluate, and address threats to independence that might be created when an audit firm provides a NAS to an audit client.
• Enable and promote more robust communication and engagement about independence matters relating to NAS between audit firms and those charged with governance of public interest entities. 

The revised NAS provisions are effective for audits of financial statements for periods beginning on or after December 15, 2022.

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