Standard Setting for Accountants and the Role of the Public Interest Oversight Board

Standard Setting for Accountants and the Role of the Public Interest Oversight Board

Eddy Wymeersch

Series number :

Serial Number: 
291/2015

Date posted :

May 01 2015

Last revised :

May 15 2015
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Keywords

  • accountants • 
  • auditors • 
  • audit standards • 
  • ISA • 
  • public interest • 
  • PIOB • 
  • IFAC

Standard setting for accountants and auditors takes places in international bodies, organised within the framework of the International Federation of Accountants. These are the International Standards on Auditing (ISAs) and the ethical standards. External oversight is exercised by the Public Interest Oversight Board, itself monitored by the international financial institutions.

The setting of these standards is based on a balance between expert interests, in which professionals play an important role, and external oversight. These self-regulatory standards are addressed to accountants worldwide and are transposed and implemented nationally by different means (legislation, contract, professional associations).

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