Session 1: Introduction to IRBA Code Revisions

• Overview of the IRBA Code of Conduct
• Importance of ethics in the auditing and accounting profession
• Key reasons for the revisions to the IRBA Code
• Understanding how these changes impact auditors, accountants, and tax professionals
• Practical considerations: How firms should prepare for compliance
  

Session 2: Technology-Related Revisions to the IRBA Code
1. Revisions to Parts 1 to 3

• Part 1 (Complying with the Code, Fundamental Principles, and Conceptual Framework)

• The impact of emerging technologies on ethical responsibilities
• Professional competence and due care in using technology-driven audit tools
• Practical examples: AI-driven audit tools and data analytics

• Part 2 (Professional Accountants in Business):

• Ethical considerations for accountants using automation in financial reporting
• Cybersecurity concerns and the responsibility of accountants
• Case study: Ethical dilemmas in financial modelling using AI

• Part 3 (Professional Accountants in Public Practice):

• How technology affects auditor independence and objectivity
• Addressing threats related to automated audit techniques and digital tools
• Practical example: Using AI to detect fraud – ensuring objectivity

• 2. Revisions to Part 4A (Applicable to Audits and Reviews of Financial Statements)
• Key updates to independence requirements in a technology-driven audit environment
• Managing risks of technology in performing and reviewing audit engagements
• Reference: IRBA Code Part 4A, Sections 400-899
• Practical Considerations:

• Establishing internal controls for technology-based audits
• Ensuring transparency in AI-assisted audit procedures
• Addressing biases in algorithm-driven decision-making

3. Conforming and Consequential Amendments to Part 4B

• Application of independence principles to assurance engagements other than audits and reviews
• Practical example: TBC

Case study: TBC

Session 3: Tax Planning and Related Services – Revisions to the IRBA Code (1 Hour)
1. Addressing Tax Planning and Related Services

• Revisions to the Code:

• Strengthened provisions for ethical tax planning
• Prohibited tax schemes and high-risk tax planning strategies
• New requirements for transparency and disclosure

• Key Ethical Principles Impacted:

• Integrity and objectivity in tax advice
• Professional behavior and avoiding aggressive tax planning
• Reference: IRBA Code, Part 3, Section 330

• Practical Considerations:
• How to assess ethical concerns in tax planning engagements
• Identifying tax avoidance vs. tax evasion – ethical responsibilities
• Case study: TBC

• 2. Effective Date and Compliance Requirements
• Overview of the effective date for the revisions
• Compliance roadmap for firms and practitioners
• Training and policy updates for firms providing tax planning services
• Implementation best practices:

• Conducting ethical reviews of tax strategies
• Establishing firm-wide policies to mitigate ethical risks in tax services