The International Ethics Standards Board for Accountants (IESBA) is an
independent standard-setting body that develops an internationally appropriate Code
of Ethics for Professional Accountants (the Code).
The objective of the IESBA, as outlined in its Terms of Reference, is to serve the
public interest by setting high-quality ethics standards for professional accountants.
The IESBA’s long-term objective is convergence of the Code's ethical standards for
professional accountants, including auditor independence standards, with those
issued by regulators and national standard setters. Convergence to a single set of
standards can enhance the quality and consistency of services provided by
professional accountants throughout the world and can improve the efficiency of
global capital markets.
The IESBA’s membership consists of 18 board members from around the world, of
whom no more than 9 are practitioners and no fewer than 3 are public members
(individuals who are expected to reflect, and are seen to reflect, the wider public
interest). Members are appointed by the IFAC Board, based on recommendations
from the IFAC Nominating Committee and with the approval of the Public Interest
Oversight Board (PIOB), which oversees the activities of the IESBA.
The standard-setting process of the IESBA includes the involvement of the PIOB
and the IESBA’s Consultative Advisory Group (CAG), 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.