IRBA Newsletter 27

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ETH I CS
Issue 27 July - September 2014
Committee forAuditor Ethics (CFAE)
Membership changes
It is with regret that we bid farewell to Edward Kieswetter, who
has provided leadership as Chairman of the CFAE since the
promulgation of the Auditing Profession Act in 2005, and
subsequent establishment of the CFAE. We thank him for his
sound leadership and clear guidance for almost ten years, that
saw the issue of the IRBA Code of Professional Conduct for
Registered Auditors and Rules Regarding Improper Conduct
for use by registered auditors in SouthAfrica.
We welcome Vishnu Naicker, Group Risk Officer: Alexander
Forbes, as successor to Edward and new Chairman of CFAE.
We wish him well in leading the CFAE and assure him of the
support of the CFAE members, the IRBA and specifically the
Standards Department.
We also bid farewell to Michael Tshishonga who has resigned
from the CFAE since his appointment in Parliament. We thank
him for the support for the last two years and wish him well in
his new endeavours.
IESBA issues exposure draft addressing Long
Association of Personnel with an Audit or Assurance
Client
On 14 August 2014, the IESBA released the Proposed
Changes to Certain Provisions of the IESBACode of Ethics for
Professional Accountants Addressing the Long Association of
Personnel with an Audit or Assurance Client for public
comment. The proposals respond to stakeholder concerns
about the appearance of independence and the need to
ensure that the threats created by the long association of audit
firm personnel with an audit client are appropriately addressed
on all audit engagements.
As the IRBA's Code of Professional Conduct for Registered
Auditors adopted Parts A and B of the IESBA Code, a CFAE
task group will consider the proposed amendments to Parts A
and B of the IESBA Code and will submit comments to the
IESBA. The exposure draft and links to the IESBAwebsite are
i n c l u d e d o n t h e I R B A E t h i c s w e b s i t e a t
IRBAEthicsWorkshops 2014
As part of its support to RAs, the IRBA held several Ethics
Workshops in October and November 2014.
These practical and interactive workshops exposed
participants to the application of the fundamental ethical
principles in practical situations when evaluating threats and
identifying and applying safeguards in terms of the conceptual
framework.
More specifically, the workshops covered the following:
?Independence issues for audit, review and other assurance
engagements and examples of actual case studies,
including:
o The IRBACode and current legislation
o Ethics and technology
o Audit fees
?The application of the “reasonable informed third party”
principle used in the IRBACode.
?International developments and amendments.
The workshops were aimed at informing the ethical decision-
making skills of auditors and their staff and enhancing their
understanding of the practical implementation of the IRBA
Code in their practices.
Uli Schackermann and Bernard Agulhus presenting at the IRBA
Ethics workshops held recently