APES 110 Code of Ethics for Professional Accountants (including Independence Standards) 5540: Long association and non-assurance services for sustainability assurance clients (Sections 5540 and 5600)

What does 5540 require?

Familiarity and self-interest threats from the long association of senior personnel with a sustainability assurance client are evaluated and addressed, with rotation requirements for public interest entity clients that align with those for audits and transitional rules in R5540.10a where the firm is not the financial statement auditor. Section 5600 governs non-assurance work for a sustainability assurance client, including the ban on any service creating a self-review threat for a PIE client, the ban on assuming management responsibility, pre-concurrence by those charged with governance for PIE clients, and the Australian tax service paragraphs (AUST R5604.4, R5604.4.1 and R5604.12.1). Prohibited services already under way at 1 January 2026 may be finished, but only for a single reporting cycle.