May 23, 2012 letter commenting on the Proposed Change to the Definition of "Engagement Team"
Published: May 23, 2012. Publicly Released: May 23, 2012.
- Full Report:
This letter provides the U.S. Government Accountability Offices (GAO) comments on the International Ethics Standards Board for Accountants (IESBA) proposed change to the definition of the phrase engagement team in the IESBA Code of Ethics for Professional Accountants (the Code). The Code establishes ethical requirements for members of the International Federation of Accountants. The IESBA is proposing to amend the Code to avoid any perception that the Code is in conflict with the revised International Standard on Accounting (ISA) 610, Using the Work of Internal Auditors.