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ACCA AAA Exam tip - NOCLAR

Richard Clarke

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

Richard