Comment on proposed standards
The Accounting Professional & Ethical Standards Board (APESB) has issued exposure draft 04/08 Proposed standard APES 215 Forensic accounting services for comment. CPA Australia invites members to comment on the exposure draft.
The proposed standard APES 215 outlines requirements and guidance for members who provide forensic accounting services, which will apply to members in public practice and in business. APES 215 aims to provide forensic accountants with additional guidance about their ethical responsibilities.
It takes into account recent court rulings about the conduct of forensic accountants, and proposes the elevation of some guidance in the present equivalent statement to mandatory requirements.
Members can comment on the exposure draft by emailing professionalstandards@cpaaustralia.com.au by 18 August 2008. A copy of ED 04/08 may be obtained via the APESB website.
Replacement of existing standards
The APESB officially announced the withdrawal of the following statements which will be replaced by the following standards. Members are advised that three replacement standards are effective from Tuesday 1 July.
APESB replacement of professional standards
| Replacement professional standards effective from 1 July 2008 |
APES 205 Conformity with accounting standards |
APES 305 Terms of engagement |
APES 220 Taxation services |
| Equivalent statements to be withdrawn |
APS 1 Conformity with accounting standards and UIG consensus views |
APS 2 Terms of engagement |
APS 6 Statement of taxation standards |
Further to this, APS 8 Statement of management consulting services standards shall be withdrawn from Monday 30 June because the professional requirements are already covered by APES 110 Code of ethics for professional accountants.
For further information, or to view the exposure drafts, visit the APESB website.
