EP 100 establishes ethical requirements for members of the Institute of Singapore Chartered Accountants (ISCA) and is modelled after the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA).
ISCA has revised EP100 to adopt the pronouncement of Responding to Non-Compliance with Laws and Regulations (the NOCLAR Pronouncement) based on the final pronouncement of Responding to NOCLAR issued by IESBA.
The NOCLAR Pronouncement is expected to be effective as of 1 April 2020. Early adoption is permitted.
The NOCLAR Pronouncement sets out a framework to guide the professional accountants in public practice and professional accountants in business, given their responsibilities to act in the public interest, in assessing the implications of the matters and the possible courses of actions, when responding to NOCLAR, committed by a client or employer.
The revised EP 100 contains new sections 225 and 360 addressing the responsibilities of professional accountants in public practice and professional accountants in business, respectively, when they become aware of NOCLAR committed by a client or employer. Consequential and conforming amendments were also made to Sections 100, 140, 150, 210 and 270 of EP 100.