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ACCA Applied Knowledge · Business and Technology · The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession

Which body issues the International Code of Ethics for Professional Accountants (including International Independence Standards), on which ACCA's own ethical requirements are based?

The International Ethics Standards Board for Accountants (IESBA) issues the International Code of Ethics for Professional Accountants. The IASB deals with financial reporting standards and the IAASB with auditing standards, so they are not responsible for the ethics code.

  1. AInternational Accounting Standards Board (IASB)
  2. BInternational Ethics Standards Board for Accountants (IESBA)Correct
  3. CInternational Auditing and Assurance Standards Board (IAASB)
  4. DInternational Organization of Securities Commissions (IOSCO)

Explanation

IESBA, an independent standard-setting board supported by IFAC, issues the International Code of Ethics. The IASB sets financial reporting standards, and the IAASB sets auditing and assurance standards, so neither issues the ethics code.

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