Resolving ethical conflicts

In this lesson

1. 0:00 Resolving ethical conflicts in audit
2. 0:32 When to seek external advice and resign
3. 1:02 Confidentiality duties and information protection
4. 2:02 Mandatory disclosure requirements and exceptions
5. 2:57 Voluntary disclosure and public interest judgement
6. 3:43 Managing conflicts of interest between clients
7. 4:38 Safeguards for competing client engagements

About this lesson

This lesson covers the consultation process within your firm, mandatory versus voluntary disclosure rules, and how to manage conflicts of interest—including when auditing competing clients. Essential knowledge for maintaining professional integrity and protecting yourself from liability in audit practice. The video explores what happens when one ethical principle conflicts with another, and how to escalate the issue through your firm, to the board, or to ACCA and legal advisers if needed. You'll understand when resignation from an audit team becomes necessary, and the critical distinction between mandatory disclosure (fraud, tax evasion, terrorism, money laundering, bribery) where the law overrides confidentiality, and voluntary disclosure based on public interest and professional judgment. The lesson also examines conflicts of interest in detail—particularly auditing competing clients simultaneously—and the practical safeguards required to make this ethically sound, such as separate teams, encrypted systems, and independent partner reviews. This material is directly relevant to AA and exam assessments of professional ethics and objectivity.

Duration: 6m