Big tip.. but what is it?
It stands for non-compliance with laws and regulations
We have this already, don't we?
Yes but this is now more explicit in the code of ethics
What's so important about it?
It explicitly allows professional accountants (including auditors) to break confidentiality if the public interest and report to authorities
Why is that?
It's an attempt to improve the reputation of accountants and auditors in the battle against fraud, corruption, money laundering etc.
Where can I find more info?
Thanks and good luck