Due Process

The standard-setting process of ISCA is robust and essentially one that draws from the resources of the International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board of the International Federation of Accountants (IFAC). ISCA’s Ethics Committee (EC) adapts and adopts the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the IESBA for the Institute’s use as EP 100 Code of Professional Conduct and Ethics, with such amendments as are necessary to serve the public interest in Singapore and to conform with Singapore's regulatory environment and statutory requirements, taking into account the benefits and intention of aligning as closely as possible with international standards. From time to time, EC may also issue Implementation Guidances to support the accountancy profession in implementing the requirements in EP 100.

EC adheres to a due process which takes into account feedback from key stakeholder groups, including preparers, users, auditors and also government agencies. All standards recommended by the EC are issued after the approval of the ISCA Council and the concurrence of the Public Accountants Oversight Committee (PAOC). Implementation guidances recommended by the EC are issued after the approval of the ISCA Council.