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Code of Professional Conduct

Last Updated 24 April 2015 01:06:02 PM

 
Ethics
 

Code of Professional Conduct

SAICA is a member of the International Federation of Accountants (IFAC). The Code of Professional Conduct, conforms to the code released by the International Ethics Standards Board for Accountants (IESBA).

Communication issued to members:

  • Partner rotation for Independent Review Engagements (71Kb PDF)
  • Signing convention for Reports or Certificates (70Kb PDF)

Changes to the Code

On 14 April 2015 the International Ethics Standards Board for Accountants Changes to the Code Addressing Certain Non-Assurance Services Provisions for Audit and Assurance Clients. The changes enhance the independence provisions in the Code of Ethics for Professional Accountants b, no longer permitting auditors to provide certain prohibited non-assurance services to public interest entity  audit clients in emergency situations, and ensuring that they do not assume management responsibility when providing non-assurance services to audit clients.

  • Basis for Conclusions –Changes to the Code Addressing Certain Non-Assurance Services Provisions for Audit and Assurance Clients (178Kb PDF)
  • Final Pronouncement - Changes to the Code Addressing Certain Non-Assurance Services Provisions for Audit and Assurance Clients (406Kb PDF)

Exposure drafts

The International Ethics Standards Board for Accountants (IESBA) releases exposure drafts for comments.

Comments are invited on any of the under mentioned exposure drafts. Comments should be sent before the comment deadlines specified alongside each exposure draft.  Email responses should be sent to juanitas@saica.co.za.  Please note that comments will be regarded as being on public record unless confidentiality is requested. Members can also submit comments directly to IFAC.

  • Proposed Changes to Part C of the Code Addressing Presentation of Information and Pressure to Breach the Fundamental Principles - Comments due 15 April 2015 (350Kb PDF) 
  • Improving the Structure of the Code of Ethics for Professional Accountants – comments due  4 February 2015 (460Kb PDF)  
  • Proposed Changes to Certain Provisions of the Code Addressing the Long Association of Personnel with an Audit or Assurance Client – comments due 12 November 2014 (300Kb PDF)
  • Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients – comments due 18 August 2014 (170Kb PDF) 

Submissions

  • April 2015 – Exposure Draft on Proposed Changes to Part C of the Code Addressing Presentation of Information and Pressure to Breach the Fundamental Principles (282Kb PDF)
  • February 2015 – Comments on the Consultation Paper on Improving the Structure of the Code of Ethics for Professional Accountants (273Kb PDF)
  • November 2014 – Comments on the ED on Proposed Changes to Certain Provisions of the Code Addressing the Long Association of Personnel with an Audit or Assurance Client (297Kb PDF) 
  • August 2014 – Comments on the ED on Proposed Changes to Certain Provisions of the Code addressing non-assurance services for audit clients
    (200Kb PDF)
 
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