Publication of Guidance material on the Code of Ethics for Chartered Accountants (Revised 2019)
The Code of Ethics for Chartered Accountants (Revised 2019) (ICAP Code 2019) is effective from July 1, 2020.
The Institute’s code of ethics is based on the code of ethics for professional accountants issued by International Ethics Standards Board for Accountants (IESBA). Prior to the issuance of the ICAP Code 2019, The Institute organized seminars and published material/articles to create awareness and facilitate members in developing understanding of the new and revised ethical requirements.
With the objective to further assist members in understanding and implementing provisions of the ICAP Code 2019, the Institute’s Technical Services team on the advice of the Auditing Standards and Ethics Committee has developed guidance material on following areas/sections of the ICAP Code 2019:
- Responding to Non-Compliance with Laws and Regulations (NOCLAR) (sections 260 and 360)
- Long Association of Personnel with an Audit Client (i.e. partner rotation) (section 540)
- Provision of Non-Assurance Services to an Audit Client (section 600)
For the ease of reading and reference, guidance on above areas is provided in three separate documents. The publications are in the Question and Answer form, and aim to highlight, explain and illustrate key aspects and revisions of the ICAP Code 2019.
These publications can also be downloaded from http://www.icap.net.pk/icap-code-of-ethics-2019
Circular 13 – Publication of Guidance material on the Code of Ethics for Chartered Accountants (Revised 2019)