IFAC have released the second instalment of its Exploring the IESBA Code educational series: The Conceptual Framework – Step 1, Identifying Threats

Exploring the IESBA Code is a twelve-month series providing an in-depth look at the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code). Each instalment focuses on a specific aspect of the Code using real-world situations in a manner that is relatable and practical.

This second instalment highlights key aspects of the Code’s Conceptual Framework, which is an approach that all professional accountants are required to apply to comply with the five principles. The instalment focuses on identifying threats and will be supplemented by two subsequent instalments that will deal with evaluating and addressing threats.