As the debate on the future of auditor independence continues both in Australia and internationally, members can now voice their views using a feedback form. 
 
Member feedback will form the basis of the Institute’s submission to the International Ethics Standards Board for Accountants (IESBA) regarding proposals to modify the Code of Ethics for Professional Accountants. The deadline for the feedback form responses is 31 March 2007. 
 
Key issues that members may want to comment on include the following proposals:

• Introducing a new term – 'key audit partner' which is to include lead partners on significant subsidiaries or divisions, who are responsible for key decisions or judgments on the financial statements on which the firm will express an opinion
• Describing 'entities of significant public interest' - for example listed companies, credit institutions, insurance companies and pension funds. Each country will decide what it considers to be 'entities of significant public interest'
• Extending the partner rotation requirements to all key audit partners on an audit of an entity of significant public interest
• Updating requirements related to the provision of non-assurance services, including setting out additional guidance on the provision of tax services to audit clients.

• The Institute: online feedback form (please note: it is not necessary to answer every question on the form. Simply answer those that concern you most)
• The Institute: Summary of key points of IESBA exposure draft
• IESBA: exposure draft