Audit services and confidential business agreements

While disclosure is required, the provision of audit services by itself does not automatically preclude an advisor from participating in a PPP project.

Where an advisor is constrained from declaring a disclosure event that is subject to a confidentiality agreement (e.g. a merger or acquisition situation), it is sufficient to declare the broad nature of the matter without disclosing the actual counterparties and how any COI arising from it will be managed. However, once the activity is generally known, the advisor is obliged to disclose all known details to the Project Director.