1 / 3

Ethical Obligations in Responding to Suspected Illegal Acts

This resource delves into exploring alternatives when faced with suspected illegal acts, emphasizing avoiding association with unethical behavior and breaching confidentiality in certain circumstances. It also discusses regulatory requirements, alignment with ISAs 240/250, and additional guidance for professional accountants. The content further covers assessing management responses, justifying disclosure to authorities, and factors for decision-making.

lucy-rowland
Download Presentation

Ethical Obligations in Responding to Suspected Illegal Acts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Responding to Suspected Illegal Acts Exploring an Alternative • Part A • Avoidance of association with client or employer who engages in: • Illegal acts • Unethical behavior • Section 140 – Confidentiality • PA is permitted to override confidentiality in the Code in certain circumstances and if in public interest

  2. Responding to Suspected Illegal Acts Exploring an Alternative • Sections 225 and 360 • Consider regulatory requirements regarding reporting of SIAs and comply with them • Align guidance with ISAs 240 and 250 with respect to SIAs • Beyond ISAs 240/250, assess additional guidance for PAs on who they should be talking to, who they should obtain advice from, assisting management and TCWG understand their responsibilities, etc • Determine whether management or TCWG have taken appropriate action • If management response is not appropriate, then consider actions to take • Determine whether disclosure to an appropriate authority would be justified in the public interest (cf first provision in the Code re distinguishing mark of the profession) • Consider factors to make determination on whether to disclose

  3. Responding to Suspected Illegal Acts Exploring an Alternative Discussion

More Related