In order to safeguard the auditor's independence, the CPAA and ICCA issued a revised code of conduct in relation to independence and established an independent body to issue such pronouncements, APESB.

Question

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The CPAA (CPA Australia) and the ICCA (now Chartered Accountants Australia and New Zealand) indeed revised their code of conduct concerning independence and established the APESB (Accounting Professional & Ethical Standards Board) to issue pronouncements on these matters, aiming to safeguard auditor independence.

In Order to Safeguard the Auditor's Independence, the CPAA and ICCA