The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board that develops an internationally appropriate Code of Ethics for Professional Accountants (the Code). The IESBA’s mission is to serve the public interest by setting ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.
The board also supports the global adoption and implementation of its standards, promotes good ethical practices globally, builds and strengthens working relationships with stakeholders, and fosters international debate on ethical issues.
The IESBA’s membership, in accordance with the published Terms of Reference, consists of 16 members, including the Chair and Vice Chair, all committed to acting in the public interest. Appointments of audit practitioners are limited to five members. Members shall be selected through an open call and appointed by the Public Interest Oversight Board (PIOB) on the recommendation of the PIOB’s Standard-Setting Boards´ Nominations Committee.
The standard-setting process of the IESBA includes the involvement of the PIOB and the IESBA’s Stakeholder Advisory Council (SAC), which provides public interest input into the development of the IESBA’s standards and guidance.
In developing its standards, the IESBA is required to be transparent in its activities, and to adhere to due process as approved by the PIOB. Board meetings, including meetings by teleconference, are open to the public, and agenda papers are available on its website.