The Accounting Professional & Ethical Standards Board (APESB) has issued an exposure draft of a proposed amendment to network firms in section 290: Independence assurance engagements of APES 110 Code of ethics for professional accountants.
In releasing the ED the APESB said that the changes would introduce more rigorous definition around the term network to give confidence of auditor independence, which in turn bolsters public confidence in accounting and auditing processes.
