Call for code for third parties

Bankers and lawyers who provide information used in company accounts should be bound by similar ethical codes as auditors and directors, the Audit Quality Forum has said.

The group has decided to set up a working group on the role of ‘third parties’ in the reporting chain, the FT reports today.

Gerald Russell, chairman of the AQF, said: ‘We are trying to make sure [bankers, lawyers, tax advisors and surveyors] are bound by the same ethical and regulatory guidelines as auditors and directors. The concerns are that if they give misleading or partial advice there are no sanctions.’

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