Page 1 | Proprietary and Copyrighted Information Structure of the Code – Phase 2 Don Thomson, Task Force Chair IESBA Meeting New York, USA June 27-29, 2016
Page 2 | Proprietary and Copyrighted Information Restructuring directly by the Structure TF –Section 800 (extant ) –Section 900 (extant 291) Overseeing restructuring by other task forces –Long Association, NOCLAR, Part C and Safeguards –Drafting guidelines help us achieve consistency Structure Phase 2 Agenda Item 2-B
Page 3 | Proprietary and Copyrighted Information Obtain the IESBA's views on –Draft changes to Section 800 in response to Board input –A first read of some draft restructured paragraphs in Section 900 (Note: Sections 800 and 900 will be subject to further change once the drafting guidelines are revised in response to input on ED 1) Agenda Item 2, paragraph 9 Objectives today
Page 4 | Proprietary and Copyrighted Information Reports that include a restriction on use and distribution –800.2: "eligible restricted use report" R800.4: Requirement moved from introduction –Included reference to application of the conceptual framework R800.6/R800.7: Reviewed use of the word "need" R800.9/R800.10/R800.12: Aligned language re addressing threats with the conceptual framework Agenda Item 2-B, paragraphs 5 to 11, and 2-C Independence – Section 800
Page 5 | Proprietary and Copyrighted Information Other assurance engagements –Agenda Item 2-C presents draft restructuring for a first read Matter for Board attention –Related IAASB standards updated –New terms: "Attestation engagement"; "Direct engagement" –Conforming changes outside Structure TF remit Agenda Item 2-B, paragraphs 12 to 16, and 2-C Independence – Section 900
Page 6 | Proprietary and Copyrighted Information September –Remainder of Section 900 to be presented for discussion –Sections 800 and 900 to be revised as appropriate to reflect any changes to the drafting guidelines arising from ED 1 input Agenda Item 2-B, paragraph 17 Next Steps
The Ethics Board