Berufsrecht
Berufsrecht
29 April 2024

Statement:
IESBA Consultation on the Draft Using the Work of an External Expert

On April 29, 2024, the WPK commented on the draft Using the Work of an External Expert as part of the consultation of the International Ethics Standards Board for Accountants (IESBA). The draft serves to establish the professional framework to assist professionals in assessing whether an external expert of the auditor (primarily in the area of sustainability engagements) has the necessary competence, skills and objectivity to enable their work to be used for the intended purposes.

The WPK welcomes the draft in principle, as it is familiar to the profession in terms of content and terminology, just like the International Auditing and Assurance Standards Board's (IAASB) ISSA 5000, which has also been positively received.

Suggestions from the WPK

  • Harmonization of terminology and definitions between the IAASB and IESBA in order to increase understanding and acceptance among members of the profession and those outside the profession,
  • moderate flexibilization of the assessment of competence, capabilities and objectivity (CCO) of external experts by the professional and
  • Expansion of scaling options to facilitate access to the sustainability market for small and medium-sized professionals in particular.
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