The Tax and Legislative Commitee was established as the technical advisors to the Institute on legislative changes impacting the profession and the business environment. The Committee is also responsible to monitor the Accountancy Profession Act and the Institute’s Bye-laws on an ongoing basis to ensure conformity with International Standards on Professional Code of Conduct and ensure alignment with best practices in the interest of the profession.
The main objectives of the Committee are:
- To review ICAB’s Bye-Laws, Rules and Regulations, every two years or as needed to ensure ongoing relevancy to the Institute, and
- To consider, review, prepare and where appropriate present recommendations to ICAB’s Council concerning the consequences of current or proposed legislative and government measures which could impact financial reporting, for further action by Council.