International Ethics Standards Board for Accountants
Review and Compilation Engagements
Isabelle Sapet
Paris June 2010
• IESBA discussed at February 2010 meeting
• IAASB discussed issues during June 2010 meeting, plans to approve exposure drafts in September 2010
Reviews and Compilation EngagementsProject Status
• Requirements
– Practitioner complies with relevant ethical standards, including objectivity, professional competence and due care
– Definition of relevant ethical standards consistent with ISAs
– Reference in the report to compliance with IESBA Code of ethics
Compilation Engagements
• Application guidance
– In complying with the Code threats to compliance with relevant ethical requirements are required to be identified and appropriately addressed
– Even though Code does not require independence national requirements may require independence or specify disclosure requirements
– Engagement letter – may indicate that independence is not required
Compilation Engagements
• Requirements
– Practitioner complies with relevant ethical requirements
• Application guidance
– Relevant ethical requirements include independence
Review Engagements
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