1. Restructured Code – Rollout
Don Thomson, Structure Task Force Chair
Gary Hannaford, Safeguards Task Force Chair
IESBA Meeting, Livingstone Zambia
December 4-8, 2017

2. What’s Next?
Approved texts available on IESBA’s website by late Jan 2018
With IESBA input, Staff to develop standard release package
PIOB approval of due process anticipated in Mar 2018; release soon afterwards

3. Restructured Code Changes to Code = major improvements
Improvements critical to strengthening regulatory trust in the Code and the profession
Improvements to Code = significant change
Clearer language with more explicit provisions + new Guide = greater understandability
Revised safeguards provisions
Applying enhanced CF requires a change mindset
New and revised PAIB provisions; new section re pressure to breach FPs
Promoting awareness of improvements to Code critical to success

4. Promoting Awareness and Implementation Support
IESBA has an important role to facilitate, but
Critical for others (e.g., NSS, MBs, firms) to embrace improvements to Code and take action now to support its effective implementation
Standard release package alone is not enough
Strategic approach needed to communicate changes to Code in a clear and consistent manner
Social media campaign, e.g., Twitter, Linked-in
In person presentations and other targeted outreach
Videos, webcasts and webinars

5. E-Code Web-based extant E-Code was first launched in 2014
Provides enhanced access and greater ease of use and navigation of Code
New WG established to:
Determine changes needed to E-Code in light of restructured Code approval
Explore how to further utilize technology in making the Code and other support materials (e.g., BfCs and Q&As) more accessible and usable
WG to present preliminary views about scoping, approach and timing during March 2018 IESBA meeting

6. Matters for IESBA Consideration
Board members asked to exchange views about actions that should be taken to promote awareness of, and support the effective implementation of restructured Code by:
IESBA
Others (e.g., MBs, NSS, firms, regulators and other policy makers)

7. Post-implementation Review
Calls for IESBA to conduct “post-implementation review”
Structure and Safeguards Task Forces believe that
Relevant and timely information need from those who implement, inspect and enforce Code is critical
Coordination with firms, regulators and audit oversight authorities needed
Important to determine approach for post-implementation review of Code more broadly (i.e., one for each project vs having as one broad initiative)

8. Matter for IESBA Consideration
IESBA members are asked whether, and if so, when and how, a “post-implementation review” for the Structure and Safeguards projects should be undertaken