2016 Consultation: 2017-2019 Strategy
Press release - consultation papers
Date: August, 2016
The Public Interest Oversight Board (PIOB) has approved its 2017-2019 Strategy for public consultation. Responses are requested by November 26th, 2016, and should be submitted electronically to Piobfirstname.lastname@example.org.
The PIOB consults with the aim to improve the delivery of its mandate and to strengthen the public interest responsiveness of the audit, ethics and education standards. The consultation includes considerations on the current standard setting system and the PIOB´s vision of the system´s longer term evolution.
The objective of the consultation is to seek input from stakeholders to shape the PIOB's strategy for the next three-year period.
The Monitoring Group (MG) supports the merits of periodic strategy reviews of the PIOB.
All comment letters will be published on the PIOB website unless the respondents expressly request confidentiality.
The PIOB may modify the preliminary conclusions or add practical implementation ideas to them in light of the comments received. The PIOB expects to draw final conclusions by January 2017.
Quote from Eddy Wymeersch, PIOB chairman:
"The PIOB oversees the standard setting activities of the International Federation of Accountants (IFAC) to ensure that they respond to the public interest. The public interest responsiveness of the standards is a shared objective with IFAC, with the Standard Setting Boards and with the Monitoring Group. This consultation opens a public debate on how this objective can continue to be best pursued. The contribution of the audit profession to financial stability can be enhanced if standard setting can respond to increased stakeholder participation and to increased independence of the standard setting boards".