1. Long Association Task Force
Richard Fleck,
Task Force Chair
IESBA Meeting
March14-16, 2016
Madrid, Spain

2. Background – Limited Re-exposure Draft
Long Association
Background – Limited Re-exposure Draft
Limited Re-Exposure Draft issued February 4, 2016
Responses due May 9, 2016
One favorable response received so far

3. Restructuring – Preliminary Considerations
Long Association
Restructuring – Preliminary Considerations
In advance of receiving re-ED responses have prepared preliminary restructured text
Accelerates the restructuring work to keep pace with Structure ED 2
Structure project team have considered the preliminary restructuring
Safeguards Task Force will review the preliminary draft after this meeting

4. Restructuring – Less is More
Long Association
Restructuring – Less is More
Light-touch restructuring
Quality of the existing drafting modelled the structure project approach
Anxious not to disturb meaning
Re-numbered throughout
Used the drafting Guidelines developed by the Structure project
Used “might” instead of “may” where appropriate
Right balance made between requirements and guidance
New heading for regulatory exemption in A1/

5. Forward Timeline May 2016 Forum of Firms Discussion
Long Association
Forward Timeline
May 2016 Forum of Firms Discussion
June 2016 National Standard Setters Discussion
June 2016 IESBA Full review re-ED
2nd read restructure
Sept IESBA CAG Re-ED responses
Sept IESBA Approve close-off and
restructured text