International Ethics Standards Board for Accountants board meeting underway in Abu Dhabi

Abu Dhabi Accountability Authority (ADAA) is hosting the annual board meeting of the International Ethics Standards Board for Accountants (IESBA) for the first time in the region. The IESBA annual meeting will be held from March 13th to March 17th, 2023 at Abu Dhabi Energy Centre under the theme, Building the Ethical Foundations for Sustainability. The event will be attended by more than 55 international members of the board.

The IESBA annual board meeting is a product of the ongoing global efforts to further develop the professional accounting and auditing practices, allowing members to discuss ongoing projects, deliberations, and group pronouncements including a range of projects managed by IESBA members.

Wael Abdul Qader, Acting Head of Monitoring and Auditing Sector at ADAA said: “Through hosting this meeting, we aim to emphasise the application of ethical standards and practices in accounting and audit. We are looking forward to meeting our partners and collaborating with them to promote the principles of integrity, transparency, and accountability locally, regionally, and internationally.”

Gabriela Figueiredo Dias, IESBA Chair, said: “We are at an important junction on our journey to develop the strong standards needed to guide the ethical behavior of those involved in the preparation of financial disclosures and in providing related assurance reports. The IESBA Code of Ethics will not only be an essential part of the regulatory system but also fundamental to market integrity and public trust. The timing of our meeting in the United Arab Emirates is auspicious as it aligns with the UAE’s Year of Sustainability, as well as with ADAA’s commitment to raise awareness of the principles of accountability, integrity, and transparency. Holding the meeting in Abu Dhabi will allow our work and messages to reach new audiences, which will help further promote ethics as an integral part of sustainable businesses and economies worldwide.”

The International Ethics Standards Board for Accountants is the independent global standard-setting body who implements the Code of Ethics for Professional Accountants. Through the code, it sets a framework of ethical principles for accountants and auditors, ensures the integration of national and international ethic standards, as well as the application of International Independence Standards.