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Think before you ink

Our guidance and support can help inform decisions on signing third party reports. Sophie Campkin outlines why and how.

Professional accountants continue to be asked by their clients to sign reports that have been requested by third parties, including various government departments and regulatory and trade bodies that the client has a relationship with. Such reports relate to a range of matters, from financial references to grant funding.

There may be pressure to sign such reports, but members should consider that signing such reports might exposethem to liability. It is important to carefully consider whether or not to accept these engagements. The Audit & Assurance Faculty’s guidance and support is available to members to help them make this decision.

Members and firms are reminded that when carrying out assurance work, they are required to follow theFi nancial Reporting Council’s Ethical Standard (where appropriate), the Code of Ethics for ProfessionalAccountants issued by the International Ethics Standards Board for Accountants  and ICAEW’s Code of Ethics. They should not, therefore, feel pressured to sign reports for which they do not have an adequate framework or guidance from the third parties that are requesting these reports.

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