Responding to Non-Compliance with Laws and Regulations (NOCLAR)

 

 

 

  


Technical Resources

 

This webpage contains pronouncements, guides and articles that are relevant to a new ethical standard: Responding to Non-compliance with Laws and Regulations

 

Effective Date

15 July 2017

 

Why do we need a new standard

When providing a professional service to a client or working for an employer, a  professional accountant may come across an act or suspected act of non-compliance with laws and regulations (NOCLAR) committed or about to be committed by the client or employer. Professional accountants therefore have an ethical responsibility not to turn a blind eye on such matters but have been bound by the duty of confidentiality under the Code of Ethics for Professional Accountants. This has created a barrier for professional accountants to promptly disclose acts or suspected acts of NOCLAR to regulators and enforcement authorities in the public interest.

 

The new standard removes the duty of confidentiality for the specific purpose of reporting acts or suspected acts of NOCLAR. The standard also provides a framework to guide professional accountants on deciding how best to act in the public interest when they become aware of suspected or actual NOCLAR.

 

 

 

 

Click below for more information


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Additional references issued by Standard Setters and Regulators
file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gifUseful references issued by other organisations 
file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gifAplus articles

 
 

Focus:



Additional references issued by Standard Setters and Regulators
file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gifHKICPA Standard Setting Department
file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gifIESBA

     - Professional Accountants in Business

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IAASB

 

 Useful references issued by other organisations

file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gif  Institute of Singapore Chartered Accountants              

 

Aplus articles
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January 2017: New Ethics Standard Gives New meaning on Acting in the Public Interest

 

 

 

Last updated: September 2017

 

 

 

 
 
 

 

Frequently used resources




Technical enquiries

 Click here to submit questions on standards issued by HKICPA.