Adoption of Technology-Related Revisions to the International Code of Ethics for Professional Accountants
The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Committee for Professional Ethics, has adopted the technology-related revisions made by the International Ethics Standards Board for Accountants (IESBA) to various parts of the International Code of Ethics for Professional Accountants.
These amendments are part of IESBA's efforts to enhance the relevance of the Code to practical requirements and developments in the professional accountants' work environment. These updates follow previous amendments by the Board concerning the role and mindset of professional accountants and non-assurance services, which included technology-related changes. The Board aims to enhance the robustness of the Code and expand its relevance to the business environment reshaped by rapid technological advancement and continuous digital progress. Specifically, these updates aim to provide guidance on the fundamental principles of the code that are crucial in the era of technology, strengthen the Code in guiding the thinking and behavior of professional accountants as they interact with changes resulting from the use of technology, and enhance the international independence standard by clarifying and addressing circumstances under which firms/networks of firms can (or cannot) provide technology-related non-assurance services to audit or assurance clients.