Article 3 Accountants' reports for licensed bodies
Where an accountant, during the course of preparing a report in accordance with licensing rules made by the Society—
discovers evidence of fraud or theft in relation to money held by a licensed body for a client or any other person (including money held on trust) or money held in an account of a client of a licensed body or an account of another person which is operated by the licensed body; or
obtains information which the accountant has reasonable cause to believe is likely to be of material significance in determining whether a licensed body is a fit and proper person to hold money for clients or other persons (including money held on trust) or to operate an account of a client of the licensed body or an account of another person,
the accountant must immediately give a report of the matter to the Society.
No duty to which an accountant is subject is to be regarded as contravened merely because of any information or opinion contained in a report under paragraph (1).