At its December board meeting, the International Ethics Standards Board for Accountants (IESBA) successfully completed and approved an exposure draft on Ethics and Independence Standards for Sustainability Reporting and Assurance and the final ethics standard for tax planning and related services.
“The exposure draft will contain proposed independence standards for use by all sustainability assurance practitioners regardless of whether they are professional accountants, and specific ethics provisions relevant to sustainability reporting and assurance,” a news release said.
The exposure draft is expected to be released later this month.
IESBA also approved final revisions to the International Code of Ethics for Professional Accountants (the “Code”) to address tax planning and related services. “The final provisions establish an ethical framework in the public interest to guide professional accountants in making judgements and decisions when providing tax planning or related services,” the release said.
The final pronouncement is expected by mid-April.
The board also voted to approve its strategy and work plan for the next three years. According to the release, IESBA will tackle two new ambitious strategic areas of focus: accountancy firm culture and governance and extending the impact of the Code beyond the accountancy profession, where it believes it can significantly expand reach and business impact.
Former CIMA chief executive receives IFAC award
The International Federation of Accountants (IFAC) announced that Charles Tilley, OBE, FCMA, CGMA, a former chief executive of CIMA, is the recipient of the 2023 Global Leadership Award.
In his role, a news release said, “Mr. Tilley brought about transformation in the positioning of management accounting and professional accountants in business and the public sector within the profession and in society”.
Tilley helped to orchestrate a partnership culminating in the formation of the Association of International Certified Professional Accountants (AICPA & CIMA), the release said, and the inception of the CGMA designation.
Tilley, according to the release, played a pivotal role in the development of the Integrated Reporting Framework, the conception of the International Integrated Reporting Council (IIRC), and later became CEO of the IIRC. He oversaw the merger of the IIRC and the Sustainability Accounting Standards Board (SASB) into the Value Reporting Foundation, which was subsequently integrated into the IFRS Foundation.
“I am delighted and honoured to receive this prestigious award,” Tilley said in the release. “Over a 50-year accountancy career, including partnership at KPMG and investment banking CFO roles, the profession has looked after me well, and I am pleased to have contributed to its development. It has a critical role and needs to remain dynamic and responsive to the ever-changing needs of business and society.”
— To comment on this article or to suggest an idea for another article, contact Steph Brown at Stephanie.Brown@aicpa-cima.com.
