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Changes to ICAEW Code of Ethics - Non Compliance with Laws and Regulations

Additional information on the changes arising from inclusion of IESBA changes since the last ICAEW code update relating to the potential overriding of confidentiality when a suspected illegal act is discovered.

ICAEW’s revised code of ethics, applicable from 1 January 2020, incorporates new sections introduced by IESBA , which consider what to do when a member suspects non-compliance with law or regulation (‘NOCLAR’) by an employer or client. In essence, the new provisions require that members should report the matter within the employer or client and if appropriate, to the auditors. If the matter is not addressed internally in an appropriate manner, members should then assess if disclosure to a third party is necessary in the public interest. In such circumstances, members should make the disclosure.