May 23, 2012 letter commenting on the Proposed Change to the Definition of "Engagement Team"

This letter provides the U.S. Government Accountability Office’s (GAO) comments on the International Ethics Standards Board for Accountant’s (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.