The Accounting Professional and Ethical Standards Board has announced it has proposed changes to the pronouncements for forensic accounting, valuation services and quality control for firms. The APESB said changes to the quality control standard will impact all accounting practices in Australia, whilst the other outlined changes will impact accountants practicing in those areas.
The group has now called for industry feedback by 16 October. The revised standards are set to take effect from 1 April of next year.
“This review will bring these pronouncements in line with our Code of Ethics and the International Code, ensuring consistency for professional accountants who work in Australia as well as across jurisdictions,” APESB chair Nicola Roxon said.
A national standards board has offered the opportunity for feedback on accounting and professional standards.