Download presentation
Presentation is loading. Please wait.
Published byDarren Shields Modified over 6 years ago
1
Fees Chishala Kateka, IESBA Member and Fees Working Group Chair
IESBA Meeting New York, USA June 19-21, 2017
2
Overview of the Session
Provide an update on WG’s activities Feedback from March 2017 Board meeting Approach to stakeholders outreach Challenges anticipated by TF Report-back on NSS June 2017 meeting Next steps
3
Feedback from March 2017 Meeting
Revise questionnaires to provide additional context about key issues to prospective respondents Consider external expertise to draft questions Review timing for the release of questionnaires so as to avoid “survey overload” Expand list of stakeholders (include more investors) Consider how to overcome challenges that may affect response rate
4
Considerations in Developing Approach
Who should be involved? Questionnaires to all stakeholders? Or just to certain stakeholders? What should be asked? Tailor questions to each stakeholder group? Same questions for all? How to maximize response rate? Limitations to questionnaires Moderated invitation-only global roundtables?
5
WG Planned Approach for Stakeholders Outreach
Questionnaires continues to be best approach Questions are being revised Assistance from IESBA Technical Advisor, Dr. Eva Tsahuridu Questionnaires to be disseminated by October 2017 Recommendation for a 90-day comment period Summary and analysis of responses to be presented to Board with TF’s final recommendations in March 2018
6
Challenges Anticipated by WG
Difficult to obtain information about fees due to sensitive nature of the topic Regulators, TCWG, firms and NSS may be subject to confidentiality rules Investors, preparers and TCWG may not respond to questionnaires Fact finding activities may not provide new insight Some issues are broad and often relate to audit quality or independence more broadly There appears to be overlap with other IESBA initiatives (future NAS and TCWG projects)
7
June 2017 NSS Meeting NSS participants were asked to share views and information: WG’s fact finding activities to-date Any other activities that the WG should be undertaking now Developments in respective jurisdictions in response to the fee- related concerns raised by stakeholders, in particular regulators and audit oversight bodies
8
Feedback from NSS Meeting
Participants were supportive Value of academic researches Role of audit committees Other jurisdictional measures Role of the Code Key comments
9
Disseminate questionnaires by October 2017
Recap of Next Steps Disseminate questionnaires by October 2017 90 days comment period Present final recommendations to Board in March 2018 Liaise with other WGs/ TFs as needed to identify relevant fee related matters
10
Matters for IESBA Consideration
IESBA members are asked for views about the: Planned approach for revising questionnaires Challenges highlighted by the WG and its reactions New timing for the presentation of the WG’s final recommendations What other fact finding activities, if any, should the WG undertake now?
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.