- 5 Marks
AA – Mar 2023 – L2 – Q2b – Professional and Ethical Considerations
Discuss the conceptual framework for maintaining independence in audit and assurance engagements.
Question
The independence of a practicing accounting firm needs to be critically assessed, whether performing an audit or other assurance engagements. The independence requirements for audit and review engagements apply to the firm, network firms, and members of the audit review team. The IESBA Code for Professional Accountants outlines a key conceptual framework approach to be applied by accountants in practice.
Required:
Discuss this key conceptual framework approach.
Find Related Questions by Tags, levels, etc.
- Tags: Audit Engagement, Conceptual Framework, IESBA Code, Independence
- Level: Level 2
- Topic: Professional and Ethical Considerations
- Series: MAR 2023
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