Auditors and the Reporting of Illegality and Financial Fraud：（审计师的报告违法行为和金融欺诈）.pdfVIP

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Auditors and the Reporting of Illegality and Financial Fraud：（审计师的报告违法行为和金融欺诈）.pdf

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Auditors and the Reporting of Illegality and Financial Fraud Roman Tomasic Professor of Law University of Canberra Auditors responsibilities have become the subject of renewed Australian and international interest in the light of the spate of the corporate collapses of recent years. Whilst this has continued to be the subject of debate over the last decade or more, the clarification of the rules in this area has become a matter of particular concern recently. This is especially so in relation to the reporting of financial fraud or illegality. This issue has become the subject of debate in a number of countries apart from Australia. In the United Kingdom, for example, the enactment of the Banking Act 1987 in England authorised auditors of banks to communicate fraud and other financial concerns confidentially to the Bank of England. Also, s. 109(1) of the Financial Services Act 1986 overrides any duty that an auditor may have to a client not to communicate information, which the auditor has become aware of as an auditor, where the auditor in good faith communicates that information to the Securities Investment Board. In other words, s. 109 creates a right and a power for the auditor to disclose appropriate information to the appropriate regulator (Sweeney-Baird 1990, pp. 30-1). The recent decision of the House of Lords in Caparo Industries plc v. Dickman and Ors (1989) 1 ACSR 636 has also examined the implications of auditors reports for potential investors in the company. The House of Lords found that there was a duty of care owed by an auditor to an individual shareholder but not generally to potential investors. This decision has received considerable discussion elsewhere and I will not traverse the same ground here. Suffice it to say that it has clarified the potential obligations of auditors for negligent action. However, it does not greatly assist us in discussing the issue of the responsibility of auditors for detecting financial f