Auditor independence – overview of existing APB Ethical Standards
Legislation has required the Institute to adopt, as regards auditor independence requirements, the Ethical Standards for Auditors, issued by the Auditing Practices Board (APB).
Accordingly, as noted in the approach scope and authority of the code of ethics, when conducting audit engagements in the UK and the Republic of Ireland, members should comply with the requirements of the APB’s Ethical Standards for Auditors
The provisions of the APB’s ethical standards apply to all audits which commenced on or after 15 December 2004. Revised standards were issued on 4 April 2008, which apply to audits of periods which commence on or after 6 April 2008.
When undertaking audit engagements elsewhere, members should comply with the requirements of Section 290 of the International Federation of Accountants (IFAC) Code of Ethics
The ethics advisory services web pages include answers to frequently asked questions on the APB ethical standards
These FAQs have been agreed between the CCAB member bodies and represent a joint understanding of the APB ESs. We do not believe the APB would be likely to disagree with these views.
Background and status
Background to the standards, issues and ICAEW actions
APB ethical standards on auditor independence: key requirements - 2004 version (PDF 40kb/6 pages)
Proposed revisions to APB Ethical Standards
Press releases
ICAEW response to proposed revisions (January 2008)
ICAEW welcomes proposed revisions to APB’s ethical standards (October 2007)
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