Professional conduct in relations to defaults or unlawful acts

Article Abstract:

The Institute of Chartered Accountants in England and Wales issues a statement regarding the professional conduct of accountants whose clients have committed some default or unlawful act. An accountant who acquires knowledge of wrong-doing by an employee of the client should first raise the matter with the management of the client. If the matter is not satisfactorily resolved, it should then be taken up with the client's audit committee or the non-executive directors. If these actions fail to resolve the issue, the accountant may consider reporting the matter to a third party. Guidelines for reporting suspected defaults or unlawful acts to third parties are discussed. An accountant who incites a client to commit a criminal offense, or who helps a client commit a crime or obstructs the course of justice by concealing an unlawful act by a client is guilty of a criminal offense.

Analysis, Business ethics

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True, fair or false?

Article Abstract:

The recession may increase the pressure on accountants, particularly finance directors, to indulge in the illegitimate manipulation of accounts. Chartered accountants searching for possible false accounting practices may consult the professional conduct guidelines issued by the Institute of Chartered Accountants of England and Wales in 1988. The guidelines make clear the accountant's responsibility in reporting false accounting practices to the proper authorities and in Appendix 1, lists examples of the common offences chartered accountants may encounter. Another useful reference would be section 17 of the Theft Act of 1968, which provides detailed information on the specific offences that the law classifies as false accounting practices.

Professional organizations, Accounting and auditing, Financial statements

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Professional conduct in relation to defaults or unlawful acts by or on behalf of a member's employer: a statement by the Council for the Guidance of Members in Business

Article Abstract:

The Institute of Chartered Accountants in England and Wales' statement, Professional Conduct in Relation to Defaults or Unlawful Acts by or on Behalf of a Member's Employer: A Statement by the Council for the Guidance of Members in Business, is presented. Areas covered by the statement include relations between members and their employers, members own relations with authorities and third parties, and advice for members not in practice.

Accounting, auditing, & bookkeeping

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