XN000022-1988-10-14 — Page 7

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ON

FRIDAY, OCTOBER 14, 1988

THE SUBJECT THE

ALSO ADDRESSED ATTORNEY GENERAL ACCOUNTANT'S CONTRACTUAL DUTY OF CONFIDENCE TO HIS CLIENTS.

HE SAID THERE WERE SIGNS THAT

INTERFERENCE STATUTORY

OF AN

PUBLIC INTEREST CONSIDERATIONS

THE WITH

PROFESSIONAL MAY YET DEMAND RELATIONSHIP OF CONFIDENTIALITY BETWEEN AN ACCOUNTANT AND HIS CLIENT.

"IF

THE NEW DRUGS

ASSETS

IT

IS CONFISCATION LEGISLATION

TO BE A INTRODUCED HERE IN SUBSTANTIALLY THE SAME FORM AS IT EXISTS IN THE UK,

OFFENCE AN THERE WILL BE A PROVISION WHICH WILL MAKE

SECURE ANY ASSETS OR PARTY TO ANY TRANSACTION DESIGNED TO PRESERVE GENERATED BY DRUGS TRAFFICKING IF YOU KNOW OR SUSPECT THAT THE ARE IN FACT DRUGS RELATED," HE SAID.

ASSETS

WHETHER ACCOUNTANTS THIS LEADS TO THE QUESTION OF LEGALLY BOUND TO REPORT FRAUD WHEREVER AND WHENEVER THEY IT DURING AN AUDIT, HE SAID.

SHOULD

BE

COME ACROSS

MR MATHEWS SAID THERE WERE ARGUMENTS FOR AND AGAINST

REPORTING.

MANDATORY

WHICH 1 HAVE REQUIRED,

OTHER

REGULATION TOWARDS IF THE TREND "HOWEVER, INDICATED CONTINUES, AND YOUR MEMBERS ARE BY WHATEVER MEANS

AND OF FRAUD EVIDENCE REPORTING INTO CAJOLED COAXED OR SERIOUS FINANCIAL MISCONDUCT WHEREVER AND WHENEVER THEY FIND IT, WHAT PROTECTION WILL THEY HAVE IN THE WIDE WORLD WHEN THE CHILL

FOR LOSS BLOWS AND CLIENTS SEEK DAMAGES OF CIVIL LITIGATION REPUTATION THROUGH NEGLIGENT OR MALICIOUS REPORTING?" HE SAID.

THEN WIND

OF

OPTIONS. FIRST,

THE

THERE SEEMS

BE THREE ΤΟ

FROM MR MATHEWS SAID INCREASES IN INSURANCE COVER, SECOND, STATUTORY PROTECTION CONSEQUENCES OF DISCLOSURE AND THIRD, THE LIMITATION OF LIABILITY.

THE

OF ARGUE IN FAVOUR MIGHT WHILE ACCOUNTANTS THEMSELVES

THE NOT HE DID

SEE SAID, OPTIONS MR MATHEWS

THEM SECOND AND THIRD

TO SAVE LEGISLATION DESIGNED

EITHER GOVERNMENT NECESSARILY ENACTING

OF NEGLIGENT OR MALA-FIDE REPORTING FROM THE CONSEQUENCES

THE GOVERNMENT WITHIN OR OUTSIDE A SPECIAL REGULATORY SCHEME, UNLESS

AUDITING AND ACCOUNTING IS ALSO SATISFIED THAT REALLY EFFICIENT AND ARE OPERATED BY PERSONS WITH THE WILL TO DO JOB PROPERLY.

THE

PRACTICES

ARE THE

"AFTER ALL, IT IS NOT IN THE PUBLIC WHICH MIGHT HAVE THE EFFECT OF ENCOURAGING SOME OF MAKE HASTY, ILL-CONSIDERED AND INACCURATE REPORTS OF

MR MATHEWS SAID. FINANCIAL MALPRACTICES,

"

DOUBT

OF 175

SUBMIT

TU

BE IN

[TS

IN CONCLUSION, THE ATTORNEY GENERAL SAID: "I HAVE LITTLE THAT YOUR PROFESSION WILL BE ABLE TO ADAPT TO THESE TIMES AND PROSPER:

DIMINUTION IF IT DOES NOT THOUGH I FEAR THAT IT MAY SUFFER A STATUS AND THAT THE DEMANDS THAT THEN MAY BE MADE OF IT TO SOME KIND OF EXTERNAL

REGULATION

MAY NOT NECESSARILY

INTEREST TO DO ANYTHING

YOUR MEMBERS

FRAUD OR

: יין

OTHER

INTERESTS."

17