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Sir,for Specimen exam applicable from Sept 20×8 Q1 (d)
The question asks for ethical threat and other professional issue but the answer only for ethical threat?
Dear tutor,
The request to accompany client to a meeting with bank is covered somewhere in code of ethics somewhere? As per ACCA answers, in case of listed clients, no one from audit firm should attend the meeting and in case of non-listed clients, another partner other than the audit partner can accompany the client which is the case in “Chester & Co – Dec 2013 4b”. Please confirm. The reason may be more chances of legal action against audit firm in case of listed clients.
Thanks for your comment.
You can actually download the IESBA Code for free from here https://www.ethicsboard.org/international-code-ethics-professional-accountants
Or the ACCA Code from here https://www.accaglobal.com/an/en/about-us/regulation/rulebook/code-of-ethics-and-conduct.html
Neither Code specifically refers to accompanying a client to a bank meeting – the Codes are based on a conceptual framework – as summarised in our notes – and the answer is applying that framework in saying that there is an advocacy threat.
I don’t see anywhere in the question or answer that it makes a distinction between listed and unlisted clients – the perceived threat would, however, be greater for a listed client by virtue of public interest.
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