1. IESBA CAG Meeting New York March 6, 2017
IESBA Future Strategy
Richard Fleck, IESBA Deputy Chair
Ken Siong, Technical Director
IESBA CAG Meeting
New York
March 6, 2017

2. Background Major public interest priorities in SWP 2014-2018
Address PAs’ responsibilities re NOCLAR…
Increase understandability/accessibility of the Code…
Increase robustness of the Code re safeguards…
Strengthen provisions addressing long association…
Address most pressing issues PAIBs face…
Restructured Code with many substantive improvements coming soon
On track towards fulfilling other SWP commitments

3. Preliminary IESBA Discussion Dec 2016
Wide range of topics considered for strategy survey
Matters identified from Structure and other projects
Matters raised by stakeholders
Matters raised during previous strategy consultation
Detailed PC assessment using various criteria, e.g.
Topic has strong public interest and global relevance
Issues capable of being adequately defined and scoped
Standard setting on topic would be impactful from cost-benefit perspective
Degree of urgency

4. Future Strategy and Work Plan
Towards 2025
Vision for IESBA Code at the quarter century?
Already a number of major known commitments
Professional skepticism
Fees
NAS
Collective investment vehicles
NOCLAR and Long Association post-implementation reviews
E-Code

5. Position the Code for Rapidly Evolving World
Disruptions from technology and innovation (e.g. Data analytics, AI, social networks, cloud computing)
Aggressive tax avoidance, (e.g. ethics of “gray area” tax minimization strategies?)
Emerging or newer models of service delivery (e.g. managed or outsourced services)
Meaning of “global public interest”?

6. Further Raise the Code’s Robustness
Enhancements to PIE and listed entity definitions?
Further guidance on materiality, e.g. when evaluating financial interests?
A holistic framework for communication with TCWG?
Clarifications to provisions addressing breaches of the Code?
More robust and streamlined approach to documentation?
Better alignment of definitions and descriptions of key terms with ISAs?

7. Way Forward March 2017: Issue survey
– Input sought from all CAG members
Sept 2017: CAG discussion survey responses
Sept 2017: IESBA review survey responses
March 2018: Approval SWP consultation paper
Dec 2018: Approval new SWP
Moratorium on new changes after restructured Code becomes effective?

8. Matters for CAG Consideration
Any stakeholder groups or particular
organizations from which to seek input
(in addition to those already identified)?
Views on proposed content of survey?