Upcoming Event - Three IESBA Webinars Explaining the Proposed Revisions to The Code Addressing Tax Planning and Related Services

[News]

The International Ethics Standards Board for Accountants (IESBA) will hold three webinars on the upcoming Tax Planning and Related Services exposure draft (ED), which is due to be released for public consultation in mid-February 2023.

During the webinars, members of the Tax Planning and Related Services Task Force will explain the key proposals in the ED, among other matters, including:

• Compliance with the fundamental principles, highlighting the types of threats that might be created when providing tax planning activities.
• Understanding the applicable tax laws and regulations, the legislative intent behind the relevant laws and regulations, and the economic purpose and substance of the transaction.
• Exercising professional judgment to establish a credible basis for the tax planning arrangement in circumstances of uncertainty. This includes a consideration of the reputational, commercial, and wider economic consequences arising from the way stakeholders might view the arrangement.
• Communicating relevant matters or concerns with the individual client, management, or those charged with governance, including as part of an escalation process where necessary.
• Developing an appropriate level of documentation throughout the process to substantiate the judgments, decisions, and actions.

Save the dates! The 60-minute webinars will be held virtually:

• Monday February 27     10 am – 11 am  Eastern Standard Time
• Tuesday February 28    4 pm – 5 pm      Eastern Standard Time
• Tuesday February 28    9 pm – 10 pm    Eastern Standard Time

Do not miss out on this unique opportunity to engage with representatives of the IESBA and learn more about these important proposals. The link to register for the webinars will be made available when the exposure draft is released for public consultation.

If you have any questions, please email Carla Vijian at Carlavijian@ethicsboard.org.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).

The IESBA believes a single set of high-quality ethics standards enhances the quality and consistency of services provided by professional accountants, thus contributing to public trust and confidence in the accountancy profession. The IESBA sets its standards in the public interest with advice from the IESBA Consultative Advisory Group (CAG) and under the oversight of the Public Interest Oversight Board (PIOB).

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