IESBA to Hold First-Ever Board Meeting in the Middle East

[News]

The International Ethics Standards Board for Accountants (IESBA), the independent standard-setting board that develops the International Code of Ethics for Professional Accountants (including International Independence Standards) (the IESBA Code) in the public interest, is holding its next Board Meeting in Abu Dhabi, UAE, from March 13-17, 2023. The five-day meeting, which will be hosted by the Abu Dhabi Accountability Authority (ADAA) will feature multiple sessions on sustainability as the IESBA looks to fulfill its commitment to developing a global baseline of ethics and independence standards for sustainability reporting and assurance within the next two years.

“On behalf of IESBA, I thank ADAA for inviting us to Abu Dhabi and for hosting our Board meeting,” said Gabriela Figueiredo Dias, IESBA Chair. “We are at an important juncture on our journey to develop the strong standards needed to guide the ethical behavior of those involved in the preparation of corporate sustainability disclosures and in providing related assurance reports. Those ethics and independence standards will be not only an essential part of the regulatory regime, but also fundamental to market integrity and public trust in such information. The timing of our meeting in the United Arab Emirates is auspicious as it aligns with the UAE’s Year of Sustainability as well as with ADAA’s commitment to raising awareness of the principles of accountability, integrity, and transparency.  Holding the meeting in Abu Dhabi will also allow our work and messages to reach new audiences, which will help further promote ethics as an integral part of sustainable businesses and economies worldwide.”

The sustainability standards being developed by the IESBA will form the third pillar in the global standards infrastructure needed to deliver transparent and trustworthy sustainability information, alongside the global sustainability reporting and assurance standards being developed by the International Sustainability Standards Board (ISSB) and International Auditing and Assurance Standards Board (IAASB), respectively. 

Wael Abdul Qader Head of Audit Affairs at ADAA stated “The IESBA Board meeting is aligned with ADAA’s mandate as an independent body responsible for safeguarding Abu Dhabi’s public funds and resources across all Abu Dhabi government entities. In addition, sharing experiences with our colleagues from around the world supports the promotion of ADAA’s underlying principles of integrity, transparency, and accountability.”

Mr. Abdul Qader added that hosting the meeting for the first time in the Middle East demonstrates ADAA’s commitment to the highest standards of ethical behavior. The meeting titled ‘Building the Ethical Foundation for Sustainability’ will highlight in particular the value of the ongoing work of the IESBA and its members around the world towards sustainability reporting.

Along with sustainability and other topics on its meeting agenda, the IESBA will discuss strategic issues in a project addressing the use of experts by professional accountants in both business and public practice, including in relation to sustainability reporting and assurance, and finalize a consultation paper on its strategy and work plan for 2024-2027. The agenda also features an IESBA-ADAA panel session, focused on the theme of “Ensuring transparency in sustainability reporting.”

For more information about the meeting, including how to register to observe, click here.  

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