15 July 2022

IESBA survey on the strategy and work plan 2024 to 2027

WPK approves only tightly limited amendments to the IESBA Code of Ethics – On 16 June 2022, the WPK issued a statement as part of the survey on the strategy and work plan 2024 to 2027 (Strategy Survey 2022) of the International Ethics Standards Board for Accountants (IESBA).

The WPK believes that the subject of sustainability is also important for the IESBA. However, the IESBA should first of all examine whether the existing principle-based regulations of the IESBA code of Ethics (Code) are sufficient to cover the subject adequately from the point of view of regulating the profession. Only if this is not the case should the IESBA consider appropriate amendments, but coordinate closely with the relevant stakeholders and, in particular, the International Auditing and Assurance Standards Board (IAASB).

Expansion of the area of application

The WPK believes that the expansion of the code’s area of application to people who are not members of the profession is worth examining against the background of the subject of Sustainability Assurance in order to ensure a sufficiently high level of quality and to avoid competitive disadvantages for the profession. In this context, the IESBA must also look into the question of the extent to which an expansion in this regard could take on binding effect and would be legally and actually enforceable.

Consistency of the terminology

In addition, the WPK believes that creating consistency between the terminology of the IAASB standards and those of the IESBA is important. However, the IESBA should not take this as an opportunity to make substantive legal expansions through the back door.

Otherwise, the WPK feels that most of the extensive issues proposed by the IESBA are not significant. The current code is an adequate and high-quality set of regulations that does not contain any substantive gaps. The profession must first of all “digest” the many amendments to the code made in recent years and should not be confronted with amendments once again - with the exception of the two greatly limited areas mentioned above.


This survey is a first step in a stakeholder consultation. The statements evaluated by the IESBA will result in a formal consultation paper that will be published by the IESBA in the first quarter of 2023 - once again with the opportunity for statements.