ISSAI 30 PROJECT
Origins:
A decision on the review of ISSAI 30 – INTOSAI Code of Ethics was taken by the Steering Committee of the Professional Standards Committee at its meeting in Stockholm in June 2013, based on the maintenance frequency. A project team was established that conducted an initial assessment, and subsequently developed a project proposal comprising a recommendation to have ISSAI 30 revised. The project proposal was approved by the PSC SC in May 2014.
Membership:
To deal with the actual revision, the team has been enlarged, and is now composed of the following SAIs: Albania, Chile, Hungary, Indonesia, Kuwait, Mexico, Namibia, the Netherlands, New Zealand, Poland (lead), Portugal, South Africa, the United Kingdom, the United States, and has one observer – the International Federation of Accountants (IFAC).
Objectives:
The main objectives of the revision of ISSAI 30 will be, among others:
- to provide for the perspective of a SAI, apart from the perspective of an individual auditor,
- to provide for consistency with other ISSAIs,
- to review the fundamental principles and core values of the Code,
- to introduce some editorial changes aimed at improving the clarity of the document,
- to update the terminology.
Deadlines:
- First draft ready in the first quarter of 2015
- Exposure draft ready in July 2015
- Time frame for the Due Process: September 2015 – October 2016
- Approval by INCOSAI 2016
Documents related to the revision of INTOSAI Code of Ethics – ISSAI 30:
- Project Proposal for Revision of ISSAI 30 approved by the PSC Steering Committee in May 2014
- Annex 1 to the Project Proposal
- Annex 2 to the Project Proposal
At its meeting on 26-27 May 2016 in Copenhagen, the PSC Steering Committee approved of the Endorsement Version of the revised ISSAI 30: