IESBA Set to Review NoCLAR in 2021

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Prof. Winnie Tarinyeba, member of the International Ethics Standards Board of Accountants (IESBA)

Prof. Winnie Tarinyeba, a member of the International Ethics Standards Board for Accountants (IESBA) informed practising accountants during the Practitioners’ Forum that the IESBA is set to review the standard for Non-Compliance with Laws and Regulations (NoCLAR) in 2021. She urged members of the Institute of Certified Public Accountants of Uganda to invest in understanding the standard better, and then put their concerns forward, as the review can only be informed by responses from accountants.

Regarding the dilemma of compliance with the standard versus client retention, Prof. Tarinyeba advised members to submit NoCLAR issues to those charged with governance first.

“Bring issues to those charged with governance first, that is, the organisation, then escalate to the regulator if you are not satisfied with the corrective measures of the organisation,” Prof. Tarinyeba advised.

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