1 / 5

Audit and Assurance

Audit and Assurance. Lecture 5b Confidentiality. Confidentiality. There is a professional duty not to disclose information about a client (without consent) In the UK the duty of confidentiality is an implied contractual duty

arlais
Télécharger la présentation

Audit and Assurance

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. Audit and Assurance Lecture 5b Confidentiality

  2. Confidentiality • There is a professional duty not to disclose information about a client (without consent) • In the UK theduty of confidentiality is an implied contractual duty • In some circumstances fraud must be reported to an appropriate proper (third party) authority in the public interest (fe police, FSA regulatory bodies, HMRC, SE)

  3. Common law (UK) - Chinese walls • A ‘Chinese Wall’ • A physical separation of departments and information within an audit firm • To prevent the use of data in non-audit contexts without a client’s permission

  4. Common law (UK) - Chinese walls • Requirements for a valid ‘Chinese Wall’ • Physical separation of departments • Training about treatment of confidentiality • Strict, defined procedures (including recording) when crossing the wall • Compliance officers monitoring effectiveness of wall • Disciplinary sanctions for breaches (Refer the Prince Jefri case -http://sunzi1.lib.hku.hk/hkjo/view/15/1501616.pdf)

  5. Further reading • House of Lords (1998) Prince Jefri Bolkiah v. K.P.M.G • http://www.publications.parliament.uk/pa/ld199899/ldjudgmt/jd981218/prince01.htm • Kelly, E. (1999) Hong Kong Lawyer • http://sunzi1.lib.hku.hk/hkjo/view/15/1501616.pdf

More Related