Responding to a Suspected Illegal Act

IESBA

Aug 22, 2012 | Exposure Drafts and Consultation Papers

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Comments due by: Dec 15, 2012

This Exposure Draft (ED) proposes new requirements that address a professional accountant’s responsibilities regarding the disclosure of suspected illegal acts committed by a client or employer. The proposals describe the circumstances in which a professional accountant is required or expected to override confidentiality and disclose the act to an appropriate authority.

The ED proposes adding two new sections addressing illegal acts to the Code of Ethics for Professional Accountants (the Code)—one each for professional accountants in public practice and professional accountants in business—and several revisions to other related sections. The new sections clearly delineate the expected course of action for a professional accountant to take if those charged with governance do not respond to the issue appropriately.

Comments are welcome from all stakeholders. See also the press release for more information.

Submitted Comment Letters

CGA-Canada (436.24 KB)
(Canada)

Nov 13, 2012
PICPA (111.19 KB)
(United States of America)

Nov 29, 2012
CIPFA (56.41 KB)
(United Kingdom)

Dec 3, 2012
GLW Analysis Services Pty Ltd (114.32 KB)
(Australia)

Dec 5, 2012
American Accounting Association, Standards Committee of the Auditing Section (160.32 KB)
(United States of America)

Dec 5, 2012
Institut des Réviseurs d'Entreprises - Instituut van de Bedrijfsrevisoren (86.42 KB)
(Belgium)

Dec 6, 2012
Wirtschaftsprüferkammer (289.74 KB)
(Germany)

Dec 7, 2012
FAR - The Institute for the Accountancy Profession in Sweden (128.07 KB)
(Sweden)

Dec 11, 2012
iCPAR (421.19 KB)
(Rwanda)

Dec 12, 2012
Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW) (113.39 KB)
(Germany)

Dec 12, 2012
Chamber of Auditors of the Czech Republic (398.21 KB)
(Czech Republic)

Dec 13, 2012
Hong Kong Institute of Certified Public Accountants (189.46 KB)
(Hong Kong, Special Administrative Region of China)

Dec 13, 2012
RSM International (278.34 KB)
(United Kingdom)

Dec 13, 2012
IMA (Institute of Management Accountants) (65.78 KB)
(United States of America)

Dec 13, 2012
McGladrey LLP (200.13 KB)
(United States of America)

Dec 13, 2012
MNP (70.83 KB)
(Canada)

Dec 13, 2012
The Institute of Chartered Accountants of India (ICAI) (9.26 KB)
(India)

Dec 14, 2012
Korean Institute of Certified Public Accountants (KICPA) (221.57 KB)
(Korea)

Dec 14, 2012
ICAEW (160.93 KB)
(United Kingdom)

Dec 14, 2012
CCAB (79.85 KB)
(United Kingdom)

Dec 14, 2012
Consiglio Nazionale dei dottori commercialisti e degli esperti contabili (2.49 MB)
(Italy)

Dec 14, 2012
Institute Of Certified Public Accountants Of Kenya (99.79 KB)
(Kenya)

Dec 14, 2012
The Institute of Chartered Accountants of Pakistan (230.66 KB)
(Pakistan)

Dec 14, 2012
FAOA (1.86 MB)
(Switzerland)

Dec 14, 2012
Mazars (108.16 KB)
(United Kingdom)

Dec 14, 2012
ICAS (291.69 KB)
(United Kingdom)

Dec 14, 2012
Association of Chartered Certified Accountants (120.79 KB)
(United Kingdom)

Dec 14, 2012
Institute of Internal Auditors (403.71 KB)
(United States of America)

Dec 14, 2012
Deloitte Touche Tohmatsu Limited (60.71 KB)
(United States of America)

Dec 14, 2012
IFAC's Professional Accountants in Business (PAIB) Committee (81.63 KB)
(United States of America)

Dec 15, 2012
Institute of Certified Public Accountants of Uganda (372.08 KB)
(Uganda)

Dec 15, 2012
BDO (163.88 KB)
(United Kingdom)

Dec 15, 2012
Malta Institute of Accountants (248.42 KB)
(Malta)

Dec 15, 2012
American Institute of Certified Public Accountants (AICPA) (395.14 KB)
(United States of America)

Dec 15, 2012
Kreston International (200.13 KB)
(United Kingdom)

Dec 15, 2012
Institute of Financial Accountants (199.56 KB)
(United Kingdom)

Dec 17, 2012
ASSIREVI (1.15 MB)
(Italy)

Dec 17, 2012
(Brazil)

Dec 17, 2012
PKF International Limited (171.54 KB)
(United Kingdom)

Dec 17, 2012
Canadian Institute of Chartered Accountants (93.75 KB)
(Canada)

Dec 17, 2012
SRA (56.55 KB)
(Netherlands)

Dec 18, 2012
European Federation of Accountants and Auditors for SMEs (354.33 KB)
(Belgium)

Dec 18, 2012
Zambia Institute of Chartered Accountants (141.79 KB)
(Zambia)

Dec 18, 2012
Instituto de Censores Jurados de Cuentas de Espana (529.9 KB)
(Spain)

Dec 18, 2012
Grant Thornton International (342.97 KB)
(United States of America)

Dec 18, 2012
Australian Public Policy Committee (64.54 KB)
(Australia)

Dec 18, 2012
Federation des Experts comptables Europeens (93.29 KB)
(Belgium)

Dec 18, 2012
Accounting Professional & Ethical Standards Board Limited-Australia (326.9 KB)
(Australia)

Dec 18, 2012
Institute of Chartered Accountants in Australia (186.89 KB)
(Australia)

Dec 18, 2012
Insitute of Certified Public Accountants of Cyprus (ICPAC) - Economic Crime and Forensic Accounting Committee (74.49 KB)
(Cyprus)

Dec 19, 2012