conflict of interests

conflict of interests

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hypothetical question

if a client buys shares in our accountancy practice, should we cease to act for them due to a conflict of interests?

Replies (8)

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By johngroganjga
13th May 2014 12:21

Do you mean act as auditors or in some other capacity?

Audit is obviously a complete non-starter, but I can't see any problem with most other types of work.  What type of conflict do you have in mind?

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By howdomonty
13th May 2014 13:23

company accounts and tax returns

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By johngroganjga
13th May 2014 13:38

And what conflict of interest do you see?

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By howdomonty
13th May 2014 13:45

there is no independence, client could be advised to benefit my situation and not theirs

 

seriously why do people on here seem incapable of answering a question and helping each other out

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Replying to Cheshire:
Stepurhan
By stepurhan
13th May 2014 14:25

Make your questions clearer

howdomonty wrote:
seriously why do people on here seem incapable of answering a question and helping each other out
If you have a problem with how people are answering them, maybe you need to make your questions clearer. A single line question is not enough. John has been kind enough to prompt for further information, but this seems to annoy you. Is asking why you think it's an issue really a rude question? Whilst I cannot think of any issues not covered, there may be facts you are aware of that would affect the question. Why are you so unwilling to expand on your concerns?
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By Sheepy306
13th May 2014 13:57

Manners

I thought John's initial response was very helpful and answered your question.

What I don't understand is why you would be so rude when you've asked for help and received it plenty of times on here.

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By johngroganjga
13th May 2014 13:58

You don't have to be independent to do accounts and tax returns.  So there is no conflict of interest.

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By The Innkeeper
13th May 2014 15:52

I agree with

John up to a point. If you are a member of one of the accountancy bodies I would suggest that you check with them in writing so you don't land yourself in the pooh next time you have a visit.

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