Abu Dhabi: The Abu Dhabi Accountability Authority (ADAA) has hosted a workshop with delegates from the International Ethics Standards Board for Accountants (IESBA).
The IESBA is primarily responsible for the development of international ethics and independence standards for professional accountants and independent auditors, while ADAA is an independent body responsible for ensuring accountability, transparency and integrity across all Abu Dhabi government entities.
Workshop focus
The workshop focused on the newly-introduced enhancements to the International Independence Standards by IESBA on non-assurance services, fees and definition of public interest entities and implementation of these developments. Delegates from both sides agreed to continue with their cooperation and collaboration.
The meeting covered an overview of the IESBA Code, sustainability reporting and assurance and regulatory and standard-setting development. It also featured an open discussion on developing a work plan for areas of collaboration.
Well-informed
Wael Abdul Qader, acting head of the audit sector at ADAA, said that this type of workshops help to enlighten both parties on the need to stay well-informed about the constant developments in the profession — both at the global and local levels.
“Through a collaborative workshop like this, we aim to contribute and influence the global efforts of standard-setting process, which supports ADAA’s mission of elevating audit quality in the emirate of Abu Dhabi,” Abdul Qader said.
Caroline Lee, deputy chair at IESBA, said IESBA dedicates significant efforts towards the adoption of the IESBA Code, as it promotes high-quality and consistent ethics and independence standards for professional accountants in all parts of the world.
“We appreciate the opportunity to share the IESBA’s latest standard-setting developments and look forward to continued collaboration with the ADAA,” Lee said.
