SMPAG Response to the IESBA’s Proposed Technology-Related Revisions to the Code

Supporting International Standards

The SMP Advisory Group (SMPAG) is pleased to respond to the IESBA Exposure DraftProposed Technology-Related Revisions to the Code (ED).

In our letter, the SMPAG is generally supportive of these technology-related enhancements to the Code and believe they provide some additional guidance as technologies continue to evolve and change the way professional accountants (PAs) work. However, we have concerns relating to overall responsibility and who should be required to determine suitability of specific technologies that are selected. We also have some concerns on how this might apply to IT teams who work with PAs in business. We also have concerns about any unintentional documentation requirements that these changes might introduce, as well as how to evaluate vendors/providers versus assessing the technology itself and how this would be applied in practice. We also questioned the addition of item b in 113.1 A1 related to the application of interpersonal, communication, and organizational skills. We debated whether communication skills are critical if the individual is technically competent, and the lack of these skills should not necessarily create an ethical violation.