On 22 May 2024, Gabriela Figueiredo Dias, chair of the International Ethics Standards Board for Accountants (IESBA) and Ken Siong, its Program and Senior Director, met with Deputy President Malcolm Bacchus, Chief Executive Alan Vallance and Iain Wright, Managing Director, Reputation and Influence to discuss IESBA’s new strategy and work plan. 

Also present were senior representatives from ICAEW’s Reputation and Influence department.

The IESBA delegation highlighted key elements of the strategy and workplan, including a focus on firm culture and governance and the intention to explore the potential expansion of the IESBA Code to non-accountants. 

They stressed that they were in “listening mode” and emphasised the importance they attached to stakeholder engagement and extensive outreach. Figueiredo Dias enthused about her passion for ethics and also brought up the potential for IESBA to contribute to the growing recognition of the importance of ethics and culture for organisations seeking to maintain the trust of their stakeholders. 

For Figueiredo Dias, trust underpins the public interest role of accountants, the provision of professional services and the global economy. The IESBA delegation acknowledged the importance of obtaining global perspectives and an informed understanding of cultural contexts in this important endeavour. 

Other issues discussed during the meeting included the value of ethics CPD, sustainability assurance and the IESBA Final Pronouncement on Tax Planning and Related Services. The IESBA and ICAEW representatives acknowledged the importance of mutual cooperation and regular liaison on ethical issues.

Gareth Brett, ICAEW’s Interim Director of Trust and Ethics said: “We are delighted that Gabriela Figueiredo Dias and Ken Siong made time to meet with ICAEW. We very much value the constructive relationship we have with IESBA and look forward to continuing to work together on areas of mutual interest.”