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Global accountants get new ethics rule on incentive payments

Tammy Whitehouse | July 25, 2018

Accountants globally have some new rules to follow when it comes to offering or accepting inducements, and they’re a little more explicitly stated than those for U.S. accountants.

The International Ethics Standards Board for Accountants has issued a revised standard that sets out a framework to more clearly establish the boundaries for acceptable versus unacceptable inducements. The standard is intended to guide the behavior and actions of professional accountants when they are faced with various kinds of incentives that are meant to elicit a certain type of response.

The new standard is meant to complement an earlier pronouncement on how accountants are expected to respond to discoveries of “noncompliance with laws or regulations,” or NOCLAR. The IESBA standard on NOCLAR compels accountants to report such instances to relevant authorities under certain circumstances, but standards...

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