• Mais de 300 participantes já inscritos, incluindo mais de 100 participantes presenciais oriundos de 28 jurisdições e 6 continentes, para o encontro em Lisboa de líderes globais do setor financeiro
• Programa atualizado inclui novas sessões sobre Confiança e Transparência nos Mercados de Capitais e o Crescimento do Private Equity nos Serviços de Contabilidade e Auditoria
• Mais de 20 oradores confirmados, incluindo reguladores, investidores, standard setters e líderes empresariais

O International Ethics Standards Board for Accountants (IESBA) anunciou hoje o programa atualizado da sua Conferência International 2025 sobre Ética e Independência, que se realiza a 15 de setembro de 2025, focado nos desafios éticos mais prementes que se colocam à profissão contabilística e ao mundo empresarial global.

Os oradores principais incluem Maria Luís Albuquerque, Comissária Europeia para os Serviços Financeiros e para a União da Poupança e dos Investimentos, Jean-Paul Servais, Presidente da IOSCO, e Joaquim Miranda Sarmento, Ministro de Estado e das Finanças de Portugal. Juntam-se a um prestigiado painel com mais de 20 especialistas e líderes internacionais.

A participação é gratuita, mas os lugares são limitados à capacidade do local.

O programa completo, as atualizações mais recentes e o formulário de inscrição estão disponíveis em: https://www.ethicsboard.org/iesba-conference-2025

Sob o tema “Ética e Independência na Auditoria: Pilares de Resiliência e Competitividade em Tempos de Incerteza”, a conferência reunirá reguladores, investidores, standard setters, firmas de contabilidade e auditoria e líderes profissionais e empresariais. O objetivo é analisar o papel central da ética na preservação da confiança e estabilidade, bem como no apoio à inovação num contexto de disrupção.

Destaques do programa incluem:

• Seis sessões temáticas dedicadas a áreas como alterações regulatórias com impacto nas atividades de auditoria e contabilidade e nos mercados de capitais, cultura e governação nas empresas de auditoria e contabilidade, desenvolvimentos relacionados com a informação de sustentabilidade, ética em planeamento fiscal e o papel dos profissionais de contabilidade e auditoria no combate ao crime financeiro;
• Painéis dedicados ao impacto da disrupção tecnológica, da inteligência artificial e do investimento de private equity nas firmas de auditoria e contabilidade, com análise das respetivas implicações éticas na transformação do setor;
• Uma lista global de oradores com mais de 20 vozes de referência nos mercados de capitais, sociedades de contabilidade e auditoria, autoridades reguladoras e instituições internacionais, incluindo os oradores principais.

Num momento em que a pressão regulatória evolui e a inovação acelera, a conferência oferece uma oportunidade para explorar o papel das práticas éticas e regras de independência  no reforço da competitividade, resiliência e confiança dos cidadãos e investidores nos setores da contabilidade e auditoria, nos mercados financeiros e na economia.

Esta  é a primeira conferência internacional dedicada à ética e à independência em serviços financeiros organizada pelo IESBA, refletindo o compromisso do Board com a promoção do diálogo com os seus stakeholders a nível internacional. Igualmente, visa contribuir para a adoção dos seus standards, consagrados no seu código internacional de ética de independência — um benchmark já adotado, utilizado ou usado como referência em mais de 130 jurisdições em todo o mundo.

A Conferência IESBA 2025 marca também o início da reunião do board do IESBA de setembro, que terá lugar em Lisboa, no campus do ISEG – Lisbon School of Economics and Management.

O evento conta com o apoio generoso do ISEG – Lisbon School of Economics and Management, bem como das duas organizações profissionais portuguesas do setor: a OCC – Ordem dos Contabilistas Certificados e a OROC – Ordem dos Revisores Oficiais de Contas.

Estes apoios são críticos para permitir a realização da conferência em Lisboa, evidenciando a associação destas organizações ao propósito desta iniciativa do IESBA de dinamização do diálogo internacional, ao mais alto nível, sobre temas de grande atualidade para o setor da contabilidade e auditoria, os mercados financeiros e a economia.

Sobre o IESBA

O International Ethics Standards Board for Accountants (IESBA) é um organismo independente de definição de normas internacionais. A sua missão é servir o interesse público através da definição de standards éticos internacionais de elevada qualidade (incluindo normas sobre independência), como base para o comportamento ético nos negócios e nas organizações, e para a confiança pública na informação financeira e não financeira — essencial ao funcionamento e sustentabilidade das organizações, dos mercados financeiros e das economias a nível global.

Juntamente com o International Auditing and Assurance Standards Board (IAASB), o IESBA integra a International Foundation for Ethics and Audit (IFEA). As atividades do IESBA e do IAASB, bem como a adequação dos seus standards ao interesse público, são supervisionadas pelo Public Interest Oversight Board (PIOB).

The International Federation of Accountants (IFAC) extends its sincere thanks to David Isherwood, Ethics Partner at BDO UK, for his outstanding leadership and service to the Forum of Firms (FoF, Forum) and the global profession. David has chaired the FoF since November 2017.

We also warmly welcome Fiona Campbell from Ernst & Young Global Limited as the new Chair of the FoF, effective July 23, 2025. Fiona is an EY partner based in Melbourne, Australia.

Lee White, Chief Executive Officer of IFAC, said: “David’s thoughtful and proactive leadership has left a lasting impact. In particular, he has driven the Forum of Firms and its mission forward, so that the profession continues to meet the highest standards of integrity and quality. His commitment to the practical implementation of global standards, in the public interest, and to fostering collaboration across the profession has been truly appreciated. We thank David for his invaluable work and contributions, including his prominent and active role in the joint IFAC-IESBA Summit, and wish him all the best in his future endeavors.”

Mr. White continued: "I’ve also had the great pleasure of working with Fiona in multiple roles, and I know she brings exceptional judgment, professionalism, and an unwavering commitment to audit quality and the public interest. Her service to our profession as a former Board Member of the IAASB, including as Deputy Chair, and her ongoing leadership at EY, position her well to guide the Forum at this critical moment for the profession, as the global accountancy community navigates a fast-changing environment."

Fiona’s passion for audit, her global perspective, and her focus on quality and collaboration will serve the FoF well as it continues to advance key priorities—from audit quality and sustainability to regulatory alignment and global trust.

“The Forum of Firms was established in 2002 and has since been a unique and highly valued partner to IFAC. I remain committed to engaging with this very important Forum—working together to innovate and deliver sustained value to the global accountancy profession,” Mr. White concluded.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The International Ethics Standards Board for Accountants (IESBA) has released Firm Culture and Governance: Summary of Feedback from Global Roundtables, a publication that captures stakeholder perspectives from six global roundtables held earlier this year as part of the Board’s Firm Culture and Governance (FCG) project.

Held in New York, Melbourne, Brussels, and Kuala Lumpur, with virtual sessions for Africa and Latin America, the roundtables brought together 168 participants from across the global regulatory, investor, standard setting, accounting firm, professional accountancy and academic communities. Discussions centered on eight core elements of an ethical firm culture: ethical leadership, oversight and governance, provision of independent input, accountability, incentives and rewards, open discussion and challenge, continuous education and training, and transparency about ethical performance.

These roundtables formed part of the IESBA’s ongoing efforts to ensure its decision-making is informed by a balanced and broad-based representation of all relevant stakeholders, in line with its mandate to serve the public interest by setting global ethics, including independence, standards for the accounting profession. The publication of this report reflects the IESBA’s strong commitment to transparency and responsiveness to stakeholder feedback – both of which are essential to fostering trust among all parties involved in the development of the highest ethics standards for the profession.

The insights gathered through these discussions have directly contributed to the IESBA’s recent decision to remain firmly committed to taking decisive steps to address the cultural and governance dimensions within accounting firms, recognizing their critical impact on ethical behavior. These insights will also shape the IESBA’s future work, referenced in a recent IESBA communication on the topic, including:

• the development of a series of IESBA Viewpoints addressing eight key elements to a Firm Culture and Governance Framework, such as ethical leadership, accountability, and incentives and rewards;
• the preparation of a comprehensive plan, to be launched in 2026, for practical guidance and other initiatives to help firms foster an ethical culture and embed values that sustain long-term public trust in them; and
• the decision to consider, by mid-2026, the appropriate approach to developing a Firm Culture and Governance Framework, aimed at guiding firms in strengthening their ethical culture and related governance practices.

To read the publication, visit: Firm Culture & Governance - IESBA Summary of Feedback from Global Roundtables | Ethics Board
 

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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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

• The IESBA and IAASB have established technical expert groups to support effective global implementation of the two boards’ sustainability standards.
• Group members bring deep expertise and hands-on experience with the application of the IESSA and ISSA 5000 standards.
• The groups will provide timely, practice-informed feedback and help develop implementation resources that the IESBA and IAASB might commission to support consistent global application.

The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) today announced the recent formation of two expert implementation groups that will play important roles in supporting the effective implementation and application of the Boards’ recently released global sustainability standards:

• The IESBA’s IESSA Implementation Monitoring Advisory Group (IIMAG) will support the implementation of the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and revisions to the IESBA code for sustainability reporting.
• The IAASB’s ISSA 5000 Technical Implementation Contact Group (TICG) will support implementation of the International Standard on Sustainability Assurance (ISSA 5000).

Each group comprises a diverse and globally representative set of professionals with a high level of familiarity with the standards and direct involvement in implementation-related activities. The IIMAG and TICG will provide regular feedback to the Boards to ensure that emerging issues relating to the implementation of the standards are identified and addressed timely, and that implementation support resources remain relevant and practical.

The work of these groups will support and contribute to IESBA and IAASB efforts to support stakeholders’ adoption and implementation of IESSA and ISSA 5000, thereby helping build trust in sustainability information and advancing high-quality assurance practices worldwide.

For more information, visit:

• IESBA’s IESSA Implementation Resources
• IAASB’s ISSA 5000 Technical Implementation Contact Group details
• IAASB’s ISSA 5000 Implementation Resources

About IAASB and IESBA
The International Auditing and Assurance Standards Board^© and the International Ethics Standards Board for Accountants^© are part of the International Foundation for Ethics and Audit (IFEA) ^©, a nonprofit organization that supports high-quality, international ethics, audit, and assurance standards in the public interest. The IAASB and IESBA develop and issue their standards independently and in accordance with an approved due process and the Public Interest Framework, overseen by the Public Interest Oversight Board.

The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.

The International Ethics Standards Board for Accountants (IESBA) welcomes the announcement by Australia's Accounting Professional & Ethical Standards Board (APESB) of the adoption of the IESBA’s Global Ethics Sustainability Standards. With this move, Australia becomes the first jurisdiction to formally embed ethics and independence standards for sustainability reporting and assurance into its national framework. 

Gabriela Figueiredo Dias, IESBA Chair, said:
“Australia’s leadership has sent a powerful signal: ethics and independence must be at the heart of how sustainability information is developed, assured, and trusted. This is more than a milestone, it’s the start of a global movement. As more jurisdictions follow, we’re helping to lay the ethical foundation around the world for a sustainability reporting system that serves the public interest, builds confidence, and drives meaningful change.”

Released in January 2025, the IESBA’s sustainability-related ethics and independence standards include the International Ethics Standards for Sustainability Assurance (IESSA), along with new provisions on sustainability reporting and the use of external experts. Together, they establish globally consistent expectations for ethical conduct and independence in sustainability reporting and assurance. 

For more on IESSA and implementation resources, click here.

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

The International Auditing and Assurance Standards Board (IAASB) has revised International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. The updated standard responds to global scrutiny and stakeholder concern regarding the auditor’s role in detecting fraud. The revised standard clarifies the auditor’s responsibilities, emphasizes a fraud lens in the auditor’s risk identification and assessment and the appropriate responses to assessed risks, and provides greater transparency in the auditor’s reports of publicly traded entities.

In developing the revised standard, the IAASB undertook an extensive global consultation with regulators, users of financial statements, standard setters, and auditors across firm sizes and geographies. The revised standard’s structure incorporates scalability and proportionality to support consistent and effective application across a range of audit engagements.

“These revisions directly address core public interest concerns regarding fraud,” said IAASB Chair Tom Seidenstein. “By clarifying responsibilities, strengthening how auditors assess and respond to fraud risks, and enhancing transparency in reporting, the revised standard better supports high audit quality and delivers more decision-useful information to users of financial statements.”

“Stakeholders made it clear: achieving consistency was necessary, but not sufficient,” said Julie Corden, former IAASB member and Chair of the IAASB Fraud Task Force. “This standard represents a practical and meaningful shift in how auditors assess and respond to fraud risks.”

Key Enhancements in ISA 240 (Revised)

The standard incorporates the following elements:

• Clearer Auditor Responsibilities – Strengthens and clarifies what auditors are expected to do when addressing risks relating to fraud.
• Reinforced Professional Skepticism – Introduces new requirements to elevate the consistency and effective practice of professional skepticism across all stages of the audit.
• Sharper Fraud Risk Assessment – Requires a focused “fraud lens” when identifying and addressing risks, with stronger links to related standards.
• More Effective Fraud Responses – Establishes a new section with clearer, enhanced requirements to guide how auditors respond to identified or suspected fraud.
• Improved Transparency and Communication – Emphasizes timely communication with management and those charged with governance, with clearer disclosures in the auditor’s report.

The revisions also align with ISA 570 (Revised 2024), Going Concern, recognizing that fraud and financial distress are often interrelated risks that must be addressed together to bolster corporate transparency and resilience.

Effective Date and Resources
ISA 240 (Revised) becomes effective for audits of financial statements for periods beginning on or after December 15, 2026. To support implementation, the IAASB has published a fact sheet and Basis for Conclusions, available on its website here. A video series will follow in the coming weeks.

The IAASB encourages jurisdictions to consider early adoption of ISA 240 (Revised), ISA 570 (Revised 2024), and the forthcoming narrow-scope amendments for publicly traded entities as a cohesive package. Together, these standards provide a stronger, more coordinated response to the risks of fraud and financial distress.

About the IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions

The International Federation of Accountants (IFAC) warmly congratulates Kurt Hohl on his appointment as Chief Accountant at the U.S. Securities and Exchange Commission (SEC), effective July 7, 2025.

Lee White, Chief Executive Officer of IFAC, said: "Kurt Hohl’s appointment comes at a critical juncture for global financial markets. His deep technical expertise, global perspective, and unwavering commitment to audit quality and investor protection make him an exceptional choice to lead the Office of the Chief Accountant. We look forward to continued collaboration in pursuit of transparent, high-quality financial reporting and assurance standards."

Mr. Hohl brings nearly four decades of experience across public practice, regulatory service, and advisory roles. Most recently, he was the founder of Corallium Advisors, offering strategic guidance on regulatory compliance, auditing, and risk management. Prior to that, he served 26 years as a partner at Ernst & Young (EY), including as global deputy vice-chair of EY’s Global Assurance Professional Practice. He is a former Associate Chief Accountant at the SEC, where he authored the foundational Financial Reporting Manual.

"Mr. Hohl’s return to the SEC signals a renewed emphasis on leadership that values both public interest and professional excellence. His leadership will help steer the accounting and auditing landscape through an era of innovation and growing global complexity," added Lee White.

"On behalf of the global accountancy profession, we extend our warmest congratulations and support as he assumes this vital role."

IFAC also expresses sincere appreciation to Ryan Wolfe for his dedicated service as Acting Chief Accountant. "Ryan’s steady leadership during this transition period has been instrumental in upholding the SEC’s mandate. We are very pleased that he will continue contributing his expertise in the Division of Enforcement," Lee White concluded.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

The first global Ethics Standards on Tax Planning, launched by the IESBA in April 2024, become effective today.

The landmark standards are designed to provide a robust ethical framework to guide professional accountants when providing tax planning services or performing tax planning activities, thereby enabling them to make ethical judgments and decisions in this complex area.

Instead of relying solely on a technical or rules-based approach, professional accountants apply a principles-driven framework that offers consistent guidance for tax planning services or activities. This framework may also be followed by other tax practitioners who wish to adhere to a high ethical benchmark.

The objective of the framework is to help ensure that tax planning decisions take into account the public interest, including that they have a credible basis in laws and regulations and that they take into consideration the potential reputational, commercial, and broader economic consequences to which the tax planning arrangement could give rise.

Given the growing public scrutiny of certain tax avoidance practices which can undermine public trust in companies and damage reputations, these standards help accounting firms and tax practitioners by offering a sound ethical foundation for advising on tax planning. In doing so, they contribute to building public and institutional confidence in tax – an area that sits at the heart of the implicit social contract between individual and corporate taxpayers and the societies in which they live or operate.

“Today marks an important milestone for IESBA and the global accounting profession," said Gabriela Figueiredo Dias, IESBA Chair. "The Global Ethics Standards on Tax Planning provide a vital tool to help firms and professionals navigate the complex and often grey areas of tax planning, ensuring the public interest remains at the forefront. I commend all those who are leading the way by adopting or working towards the adoption of these standards”.

The IESBA is pleased to recognize and congratulate the following jurisdictions, which have already adopted the standards: Australia, Hong Kong SAR, Saudi Arabia, Singapore, and South Africa.

“The adoption of IESBA’s new global tax planning standards into the Australian Code constitutes a significant enhancement to the ethical framework governing the behavior of the accounting profession providing tax services in Australia, and upholds the paramount principle of serving the public interest.”

Nancy Milne OAM, Chair, Accounting Professional & Ethical Standards Board (APESB)

“At HKICPA, we uphold the public interest and professional integrity and are committed to proactively aligning with international benchmarks. Embracing the IESBA’s Tax Planning Standards strengthens trust in our profession and bolsters the credibility of our members and tax professionals as ethical, trusted advisors.”

Edward Au, President, Hong Kong Institute of Certified Public Accountants (HKICPA)

“As part of SOCPA’s commitment to serve the public interest and ensure harmony with the international professional and ethical standards, we adopted the Tax Planning standards as we found them providing additional clear guidance for professionals to act in accordance with the Ethical Requirements (approved IESBA Code of Ethics) in Saudi when dealing with complex tax issues.”

Dr. Ahmed bin Abdullah Al-Meghames, CEO, Saudi Organization for Chartered and Professional Accountants (SOCPA)

“ISCA is proud to be among the early adopters of IESBA’s Tax Planning and Related Services standards. The standards provide a clear, globally applicable ethical framework for professionals navigating complex tax issues, serving as a practical guide to help them comply with the IESBA’s Code of Ethics. This is a step forward in promoting responsible tax conduct and upholding the reputation of the profession.”

Ms. Fann Kor, CEO, Institute of Singapore Chartered Accountants (ISCA)

“We are proud to be among the first jurisdictions to adopt these standards, affirming our leadership in global ethics and governance. Harmonizing with the IESBA Code underscores our role as a forward-looking jurisdiction that supports transparency and global accountability.”

Imre Nagy, CEO, Independent Regulatory Board for Auditors (IRBA)

Other jurisdictions, such as India and Japan, are also making significant progress toward adopting, or actively considering adopting, the standards, which helps build momentum toward further alignment around a global ethical foundation and baseline for tax planning.

Implementation Support Resources

The IESBA encourages all professional accountants to familiarize themselves with the standards in order to uphold the profession’s commitment to ethical tax practices. Implementation support resources, including IESBA Staff Questions & Answers, can be accessed on the IESBA website.

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

At its June Board meeting, the International Ethics Standards Board for Accountants (IESBA) approved updates to its 2025-2026 Work Plan to better support ethical behavior and independent judgment in an increasingly volatile and uncertain environment.

Amid rapid shifts in financial markets, stakeholder expectations, and the regulatory landscape, the IESBA reaffirmed its commitment to strengthening the ethical foundations of accounting, business and finance.

“The current challenges require us to focus on what matters most: stronger ethical cultures, better support for global adoption of our standards, and a smarter, more responsive approach to our work,” said Gabriela Figueiredo Dias, IESBA Chair. “We’ve developed strong standards — now it’s time to focus on supporting their use in day-to-day decisions. The IESBA remains committed to helping professional accountants apply ethics in real-world contexts and to strengthening public trust where it’s needed most.”

The revised work plan reflects three key decisions:

1. A Resequenced Approach to the Firm Culture and Governance Project

Building on extensive stakeholder feedback and market analysis, IESBA remains firmly committed to taking decisive steps to address the cultural and governance dimensions at accounting firms that have implications for ethical behavior. Following up on the January 2025 landmark IESBA Firm Culture and Governance (FCG) Working Group Report, over the next 6 months the IESBA will develop a series of IESBA viewpoints on the eight elements of an FCG framework highlighted in the Working Group report, including ethical leadership, accountability, and incentives and rewards. At the same time, the IESBA will develop a plan for practical guidance and other initiatives in 2026 to help firms foster ethical culture and embed values that support long-term trust.

By mid-2026, informed by its further engagement with stakeholders on the viewpoints, the IESBA will consider the approach to the development of the FCG framework to guide firms’ cultural alignment and related governance practices, including consideration of the benefit of including the framework in the IESBA’s International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code).

This resequenced approach reflects the IESBA’s leadership role in responding to ethical gaps in practice and strengthening public trust and confidence in the accountancy profession, while recognizing that the current volatile and uncertain context calls for increased support to market participants.  This recognition is also reflected in the IESBA’s strategic decision to slow down the issuance of new standards, especially in light of the adoption and implementation efforts required for the significant ethics and independence standards recently issued, including on sustainability reporting and assurance, tax planning and related services, group audits, definition of a public interest entity, and technological transformations in the accounting, assurance and finance functions.

2. The Introduction of the SMART Strategic Framework

To enhance the clarity, impact, and coherence of its activities, the IESBA approved the SMART framework — a new stakeholder-centric strategic lens to guide its work, driving effective consistency and strategic alignment. SMART stands for:

• Simplification of processes and outputs;
• Mobilization of stakeholders to act with impact and purpose;
• Adoption support of the IESBA Code across jurisdictions;
• Responsiveness to stakeholders in the face of emerging risks and expectations; and
• Targeted Action by tailoring efforts and engagement to different stakeholders.

This framework translates the IESBA’s vision into an operational roadmap that will shape planning, communications, and coordination across projects.

3. Slowing the Pace of Standard-Setting: A Reinforced Focus on Stakeholder Engagement and on Adoption and Implementation

Recognizing that to be relevant and impactful, robust standards require real-world application to drive change, the IESBA is stepping up its support for jurisdictions and professionals adopting and implementing the Code. Therefore, the IESBA is slowing the pace of new standards to allow consolidation of recently issued standards, with no new significant standards to be issued before 2027. The updated plan places increased emphasis on:

• Tailored stakeholder outreach and engagement
• Dedicated mechanisms to address challenges in the implementation of the Code
• Post-implementation reviews of significant recent standards
• Development of non-authoritative and other supporting materials and initiatives to aid implementation and application of standards issued over the last few years
• Coordination with IFAC and other global bodies as well as jurisdictional standard setters to address adoption barriers and increase support for the adoption and implementation of the IESBA Code

The updated IESBA Work Plan 2025-2026 can be accessed here.

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 high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.

The International Auditing and Assurance Standards Board (IAASB) has published a new Frequently Asked Questions document for the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE), its standard tailored for financial audits of smaller and less complex entities. This new FAQ addresses common questions received during webinars and outreach following the standard’s publication in December 2023, offering timely and practical clarifications. It also replaces a previously issued FAQ.

This release represents the final planned component of the IAASB’s implementation support package for the ISA for LCE, complementing the previously released adoption guide, fact sheet, first-time implementation guide, and other supplemental materials. Together, these resources provide a comprehensive suite of tools to support effective implementation.

The IAASB remains committed to supporting the adoption and implementation of the ISA for LCE through continued outreach and engagement with stakeholders, as well as with global and jurisdictional regulators.

While the FAQ does not amend or override the authoritative text of the ISA for LCE, it serves as a helpful tool to support consistent understanding and application of the standard.

Explore the guide and additional resources at: www.iaasb.org/ISAforLCE.

About the ISA for LCE
Built on the foundation of the International Standards on Auditing (ISAs), the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities, or the ISA for LCE, is proportionate and tailored to the specific needs of audits of less complex entities. Its streamlined approach enhances usability for practitioners performing these engagements.

About IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.