1. Emerging Issues and Outreach Committee
Winifred Kiryabwire, EIOC Chair
IESBA Meeting
Nashville
June 17-19, 2019

2. Objectives To update the Board on EIOC activities since December 2018;
To discuss IESBA Outreach Activities;
Background;
Objectives;
Key stakeholders; and
Geographic regions.
Other matters for Board noting.

3. Role of EIOC EIOC Terms of Reference:
Status of global adoption
Developments in key jurisdictions
Matters identified by EIOC
Outreach matters
Some SWP commitments in which EIOC should/could have role:
Monitoring emerging issues
Outreach

4. EIOC Activities since December 2018
The EIOC
met in person in the margins of the March 2019 IESBA meeting and
via conference call in April and May 2019
to discuss several emerging issues or developments it had noted and to agree matters to bring to the Board’s attention.

5. IESBA Outreach Activities
Background
SWP commitments on outreach
EIOC remit to reflect on outreach activities and advise on strategy
Outreach strategy for :
Objectives
Key Stakeholders
Regions / Jurisdictions
Frequency

6. Intensity of Outreach Activities by Countries 2016-2019

7. Intensity of Outreach Activities across G20 Countries by Year

8. Frequency of Outreach Activities by Stakeholders and Type

9. Outreach strategy for 2019-2023
Key stakeholders (Section C of Agenda item 9A):
Regulatory community (e.g. IFIAR, IOSCO)
Investors
National Standard Setters
The profession (firms and IFAC member bodies)
IAASB and other IFAC boards and committees
INTOSAI
Academia

10. Categorization of Stakeholders

11. Outreach strategy for 2019-2023
Objectives:
Enhancing stakeholder trust in the Code
Promoting, adoption and effective implementation
Raising awareness of the Code and the Board’s work
Engaging in dialogue with stakeholders
Hearing of stakeholder concerns
Facilitating implementation of the Code
Co-operation with key stakeholders

12. Matters for Consideration
Do IESBA members agree with the proposed criteria for the categorization of stakeholder organizations, and the actual allocations of organizations to the different categories?
Are there other stakeholder organizations that should be included, from the perspectives of both professional accountants in public practices (PAPPs) and professional accountants in business (PAIBs)?
Taking into account the relative number of engagements set out in the table for Category A, do IESBA members believe there is a need to recalibrate the outreach effort to Category A organizations?

13. Outreach strategy for 2019-2023
Geographic regions (Section D of Agenda Item 9A):
Generally, IESBA outreach activities to date have focused on Africa, Asia Pacific, South Asia, the Middle East, Western Europe, North America and Latin America, and to a lesser extent Eastern Europe
In relation to the G20 countries, the Board has expended outreach efforts in the following countries in the period or will do so in the near future (refer to following slides below):
Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, UK and US.
In the light of the above, the EIOC recommends that the Board prioritize outreach efforts towards Argentina and Turkey in the near future

14. Matters for Consideration
Do IESBA members agree with the EIOC’s recommendation?
Which other jurisdictions outside the G-20, if any, should be specifically targeted?
Do IESBA member have any further ideas on how to enhance outreach activities?

15. Other Matters – For Board Noting
Developments in the United Kingdom
Key reviews
Kingman Review of FRC
CMA Competition in the audit market
BEIS Future of audit
Brydon Quality and effectiveness of audit

16. The Ethics Board