{"id":{"repo_id":"malta","oai_identifier":"oai:www.um.edu.mt:123456789/129772"},"canonical_url":"https://search.dev.ndltd.org/etd/malta/oai:www.um.edu.mt:123456789/129772","repository":{"repo_id":"malta","name":"University of Malta","base_url":"https://www.um.edu.mt/library/oar/oai/request"},"display":{"title":"Professional secrecy and the auditor","abstract":"Although auditing is not one of the traditional professions, the concept of traditional secrecy has always been given significant importance by the profession itself through its Code of Ethics and professional pronouncements. This concept has now been consolidated through the enactment of the Professional Secrecy Act, 1994, which makes specific reference to the auditing profession. During the last five years, the country have witnessed significant developments both in company legislation and in the financial services sphere. The enactment of new laws has changed the role of local auditors as both the Companies Act, 1995 and the Financial Services related legislation contain various instances which compel auditors to disclose certain which they come across to the authorities. These duties are more evident in the financial services legislation, where the auditor has effectively become an integral part of the prudential supervisory structure with the aim of protecting investors and the stability of the company and of the financial system as a whole. Although local financial services legislations are based on the latest U.K. and EU laws and directives, local auditors however lack the necessary guidance to ensure adherence to the new duties imposed on them depending on the gravity of each particular case. These could take the form of detailed guidelines issued by the respective Competent Authorities and practice notes issued by the profession itself Auditors of other commercial companies also need some form of assistance against unscrupulous directors, particularly in the light of the rise in the level of corporate crime. Auditors should be provided with the necessary protection to enable them to report to the Registrar of Companies or any other authority. any instances of serious directors' defaults, such as suspicions of money laundering activities, without the need for them to resign. The Registrar should he given more power in investigating reports of serious defaults. In conclusion, the issuing of detail guidelines would certainly reduce the expectation gap currently faced by auditors who must find a balance between their duty of secrecy towards the shareholders who appoint them, and the duty to the general public which prompts them to disclose certain facts to the relevant authorities.","abstract_html":"Although auditing is not one of the traditional professions, the concept of traditional secrecy has always been given significant importance by the profession itself through its Code of Ethics and professional pronouncements. This concept has now been consolidated through the enactment of the Professional Secrecy Act, 1994, which makes specific reference to the auditing profession. During the last five years, the country have witnessed significant developments both in company legislation and in the financial services sphere. The enactment of new laws has changed the role of local auditors as both the Companies Act, 1995 and the Financial Services related legislation contain various instances which compel auditors to disclose certain which they come across to the authorities. These duties are more evident in the financial services legislation, where the auditor has effectively become an integral part of the prudential supervisory structure with the aim of protecting investors and the stability of the company and of the financial system as a whole. Although local financial services legislations are based on the latest U.K. and EU laws and directives, local auditors however lack the necessary guidance to ensure adherence to the new duties imposed on them depending on the gravity of each particular case. These could take the form of detailed guidelines issued by the respective Competent Authorities and practice notes issued by the profession itself Auditors of other commercial companies also need some form of assistance against unscrupulous directors, particularly in the light of the rise in the level of corporate crime. Auditors should be provided with the necessary protection to enable them to report to the Registrar of Companies or any other authority. any instances of serious directors' defaults, such as suspicions of money laundering activities, without the need for them to resign. The Registrar should he given more power in investigating reports of serious defaults. In conclusion, the issuing of detail guidelines would certainly reduce the expectation gap currently faced by auditors who must find a balance between their duty of secrecy towards the shareholders who appoint them, and the duty to the general public which prompts them to disclose certain facts to the relevant authorities.","abstract_has_math":false,"creators":[],"institution":"University of Malta","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":1998,"date_issued":"1998","date_published":"1998","updated_at":"2026-07-27T20:10:58Z","subjects":["Auditors -- Malta","Confidential communications -- Malta","Confidential communications -- Auditors","Financial services industry -- Law and legislation -- Malta"],"languages":["en"],"rights":["info:eu-repo/semantics/restrictedAccess"],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://www.um.edu.mt/library/oar/handle/123456789/129772","outbound_label":"Repository record","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2024-12-10T12:42:00Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2024-12-10T12:42:00Z"]},{"key":"dc:date.issued","label":"Date","values":["1998"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Faculty of Laws"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["University of Malta"]},{"key":"dc:type","label":"Dc Type","values":["masterThesis"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Auditors -- Malta","Confidential communications -- Malta","Confidential communications -- Auditors","Financial services industry -- Law and legislation -- Malta"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["en"]},{"key":"dc:rights","label":"Dc Rights","values":["info:eu-repo/semantics/restrictedAccess"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://www.um.edu.mt/library/oar/handle/123456789/129772"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["M.A.FIN.SERVICES"]},{"key":"dc:description.abstract","label":"Abstract","values":["Although auditing is not one of the traditional professions, the concept of traditional secrecy has always been given significant importance by the profession itself through its Code of Ethics and professional pronouncements. This concept has now been consolidated through the enactment of the Professional Secrecy Act, 1994, which makes specific reference to the auditing profession. During the last five years, the country have witnessed significant developments both in company legislation and in the financial services sphere. The enactment of new laws has changed the role of local auditors as both the Companies Act, 1995 and the Financial Services related legislation contain various instances which compel auditors to disclose certain which they come across to the authorities. These duties are more evident in the financial services legislation, where the auditor has effectively become an integral part of the prudential supervisory structure with the aim of protecting investors and the stability of the company and of the financial system as a whole. Although local financial services legislations are based on the latest U.K. and EU laws and directives, local auditors however lack the necessary guidance to ensure adherence to the new duties imposed on them depending on the gravity of each particular case. These could take the form of detailed guidelines issued by the respective Competent Authorities and practice notes issued by the profession itself Auditors of other commercial companies also need some form of assistance against unscrupulous directors, particularly in the light of the rise in the level of corporate crime. Auditors should be provided with the necessary protection to enable them to report to the Registrar of Companies or any other authority. any instances of serious directors' defaults, such as suspicions of money laundering activities, without the need for them to resign. The Registrar should he given more power in investigating reports of serious defaults. In conclusion, the issuing of detail guidelines would certainly reduce the expectation gap currently faced by auditors who must find a balance between their duty of secrecy towards the shareholders who appoint them, and the duty to the general public which prompts them to disclose certain facts to the relevant authorities."]},{"key":"dc:title","label":"Title","values":["Professional secrecy and the auditor"]}]}],"canonical_facts":{"dc:date.accessioned":["2024-12-10T12:42:00Z"],"dc:date.available":["2024-12-10T12:42:00Z"],"dc:date.issued":["1998"],"dc:description":["M.A.FIN.SERVICES"],"dc:description.abstract":["Although auditing is not one of the traditional professions, the concept of traditional secrecy has always been given significant importance by the profession itself through its Code of Ethics and professional pronouncements. This concept has now been consolidated through the enactment of the Professional Secrecy Act, 1994, which makes specific reference to the auditing profession. During the last five years, the country have witnessed significant developments both in company legislation and in the financial services sphere. The enactment of new laws has changed the role of local auditors as both the Companies Act, 1995 and the Financial Services related legislation contain various instances which compel auditors to disclose certain which they come across to the authorities. These duties are more evident in the financial services legislation, where the auditor has effectively become an integral part of the prudential supervisory structure with the aim of protecting investors and the stability of the company and of the financial system as a whole. Although local financial services legislations are based on the latest U.K. and EU laws and directives, local auditors however lack the necessary guidance to ensure adherence to the new duties imposed on them depending on the gravity of each particular case. These could take the form of detailed guidelines issued by the respective Competent Authorities and practice notes issued by the profession itself Auditors of other commercial companies also need some form of assistance against unscrupulous directors, particularly in the light of the rise in the level of corporate crime. Auditors should be provided with the necessary protection to enable them to report to the Registrar of Companies or any other authority. any instances of serious directors' defaults, such as suspicions of money laundering activities, without the need for them to resign. The Registrar should he given more power in investigating reports of serious defaults. In conclusion, the issuing of detail guidelines would certainly reduce the expectation gap currently faced by auditors who must find a balance between their duty of secrecy towards the shareholders who appoint them, and the duty to the general public which prompts them to disclose certain facts to the relevant authorities."],"dc:identifier.uri":["https://www.um.edu.mt/library/oar/handle/123456789/129772"],"dc:language.iso":["en"],"dc:publisher.department":["Faculty of Laws"],"dc:publisher.institution":["University of Malta"],"dc:rights":["info:eu-repo/semantics/restrictedAccess"],"dc:subject":["Auditors -- Malta","Confidential communications -- Malta","Confidential communications -- Auditors","Financial services industry -- Law and legislation -- Malta"],"dc:title":["Professional secrecy and the auditor"],"dc:type":["masterThesis"]},"updated_at":"2026-07-27T20:10:58Z"}