On 20 June 2024, APESB issued an Amending Standard to APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) for Technology-related revisions.

The revisions align with the IESBA’s revisions to the International Code incorporating technology-related considerations into the fundamental principles of Professional Competence and Due care and application material to manage technology-related complex circumstances.

The amendments will be effective from 1 January 2025, with early adoption permitted.

The Staff of APESB and the International Ethics Standards Board for Accountants (IESBA) have released a new publication, Applying the Code’s Conceptual Framework to Independence: Practical Guidance for Auditors in Technology-related Scenarios. The new publication describes key technology-related provisions in the International Code of Ethics for Professional Accountants (including International Independence Standards) (the IESBA Code). It provides auditors with three practical examples involving technology-related non-assurance services to illustrate how to apply the IESBA Code’s requirements with respect to auditor independence.

At the Telstra and Australia Post Panel Event hosted by CA ANZ, APESB’s CEO Channa Wijesinghe FCPA, FCA outlined global revisions to the IESBA Code of Ethics on Technology.

The revisions apply to the use of any current and emerging technologies and guide the mindset and behaviour of professional accountants when they use technology. The revisions set out enhanced guidance for the digital age on the fundamental principles of confidentiality and professional competence and due care and provides new guidance on dealing with circumstances of complexity.