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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) that forms the basis of the ACCA Code of Ethics and Conduct?

The International Ethics Standards Board for Accountants (IESBA) issues the International Code of Ethics for Professional Accountants. The IASB sets accounting standards and the IAASB sets auditing standards, so they do not write the ethics code that ACCA's own code is based on.

  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 Federation of Accountants (IFAC) Compliance Advisory Panel

Explanation

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

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