Conflict of Interests with Accountants

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Solicitors have to declare a conflict of interests in certain cases and cannot act for two separate parties where a conflict may arise. Does anyone know whether a similar code of practice applies to accountants or does anyone have any suggestions as to how I can find this out?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Conflict of Interests with Accountants

    Hi,<BR> <BR><BR>Last year, 2 of the Directors at the company I work for sold their shares of the business to a new Director and an existing Director, which meant that the firm of accountants we were using at the time had a conflict of interest, so they were not allowed to represent the new buyer and the exisiting Director, they had to have their own firm of accountants, who came and did a full audit etc, etc, to advise on the sale. So in this case the rules applied of conflict of interest. Hope this helps a little.<BR><BR>Sarah

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