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?