1. IESBA Meeting New York March 14, 2017
IESBA Strategy Survey
Dr. Stavros Thomadakis, IESBA Chairman
Ken Siong, Technical Director
IESBA Meeting
New York
March 14, 2017

2. 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

3. 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

4. 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”?

5. Further Raise the Code’s Robustness
Enhancements to PIE and listed entity definitions? (C.4)
Further guidance on materiality, e.g. when evaluating financial interests? (C.5)
A holistic review of approach to communication with TCWG? (C.6)
Meaning of familiarity threat with respect to PAIBs? (C.7)

6. Further Raise the Code’s Robustness
Clarifications to provisions addressing breaches of the Code? (C.8)
More robust and streamlined approach to documentation? (C.9)
Better alignment of definitions and descriptions of key terms with ISAs? (C.10)
Post-implementation review of restructured Code? (C.11)

7. Key Feedback from CAG – General
General support for approach to and content of survey
Some suggestions for improvement re approach
Allow freeform responses?
Too many levels of importance in responses?
Ask for top five priorities?
Timing
Too much too soon for stakeholders?
Consider aligning strategy period with IAASB’s?

8. Key Feedback from CAG – Specific
Move away from paradigm of resource limitations?
Any IESBA activity that can be discarded?
Leverage work done by NSS on identified priorities?
Indicate how much resources needed for each item?
NAS: opportunity for IESBA to lead from the front?
Avoid tying up resources addressing unresolvable issues

9. Key Feedback from IFAC SMP Committee
Balance burden of change with benefit to public interest
PC proposal for two-year pause in new changes
becoming effective after Code restructured too short?
Address SME/SMP issues in more focused manner
E.g. definition of PIE, meaning of familiarity threat in extant Part C
Support for addressing concept of global public interest
Review extent of global adoption of the Code
Allow more time for responses to survey?

10. Current Timeline March 2017: Issue survey
Sept 2017: CAG discussion survey responses
Sept 2017: IESBA review survey responses
March 2018: Approval SWP consultation paper
Dec 2018: Approval new SWP
Consider allowing 90 vs 60 days for survey responses?

11. Matters for Consideration
Views on PC recommendations for items
included in survey?
Any other matters that should be included?
Views on two-year pause for new changes
becoming effective?