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Global body reboots ethics rules for accountants

Tammy Whitehouse | April 25, 2018

Accountants globally have some revised ethics rules to follow, which should prompt an examination in the United States over whether there are new thresholds to meet.

The International Ethics Standards Board for Accountants (IESBA) released a rewritten code of ethics for professional accountants that seeks to make the standard of behavior more explicit. The goal of the rewrite was to make the code easier to navigate, use, and enforce.

The IESBA says the fundamental principles of ethics have not changed with the revised code. Rather, it is the approach that will be used by professional accountants to identify, evaluate, and address any threats to compliance with the code of ethics, which includes requirements for independence.

“The ethics board tried to be responsive to many concerns heard over the years,” says Ken Siong, technical director at the IESBA. “We heard...

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