PracticeConsultingAccountants called to fight corruption

Accountants called to fight corruption

Accountants and auditors should take the lead in the battle against international corruption, a powerful committee of MPs said yesterday.

The all-party group rejected the claim by PricewaterhouseCoopers’ senior audit partner Roger Davis that it was not the role of auditors to make a moral judgement on what is acceptable.

The House of Commons international development committee said this week: ‘Auditors have a key role to play in spreading best practice and raising standards.

‘We do not see how they will be able to do this without making some judgement on what works and does not, about which companies need to do more.’

In its corruption report the committee said the profession should play an ‘active and vocal path in the current debate on the best way forward’.

And the government’s approach to money-laundering was singled out and labelled uncoordinated. Whitehall takes too long to respond to overseas governments requesting help in tracing the proceeds of coruption, according to the committee.

It also called for extra moves and resources to tackle money laundering including freezing assets during investigations. In addition, it called for reform in the accounting regimes of the World Bank.

Links

Help needed for money laundering survey

Accountants’ vigilance to be tested

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