IESBA staff alert issued on the Ukraine Conflict: Key Ethics and Independence Considerations

3 October 2022

This Staff Alert highlights the ethical implications arising from the wide-ranging economic sanctions many jurisdictions have imposed on Russia and certain Russian entities and individuals as well as Belarus, and the related ethical responsibilities of accountants in business and in private practice under the Code. It also highlights:

  • Key ethics considerations for accountants in business in relation to the preparation and presentation of information, especially as regards accounting for and disclosing the impact of the Ukraine conflict on their employing organizations’ business; and
  • Key ethics considerations for accountants in private practice in relation to client and engagement acceptance, and in the context of audits of financial statements, key independence considerations relating to overdue fees and the Code’s prohibition against assuming management responsibility.

You can access the staff alert here.

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