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If an accountant were being pressurized to misclassify a transaction to reduce gearing and all internal escalation efforts have failed, would it be acceptable if she reported the situation the the lender? It would not be in breach of the code of ethics if she went externally to say the lender?
or in a different scenario relating to taxes if she went to the tax authorities to report the matter? Am I right?
No, it would not be acceptable. First go externally to CIMA and legal advisers.
For tax, should still go to CIMA and take legal advice before whistle-blowing.
The recommended approach as you is to go to CIMA first and then external auditors, trade/regulatory body and seek legal advice.
And if all gets nowhere then to dissociate from the situation.So under no circumstance wld an accountant approach the tax authorites or lenders to report a breach? Am I right?
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