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  • Who the CBB will Nominate or Approve when Using Experts

    • MIE-1.9.5

      When considering whether to nominate or approve an expert to make a report, the CBB will have regard to such factors as whether the proposed person appears to have:

      (a) The skills necessary to make a report on the matter concerned;
      (b) The ability to complete the report within the time required;
      (c) Relevant specialised knowledge on the matter to be reported on;
      (d) Any professional difficulty or potential conflict of interest in reviewing the matters to be reported on, including but not limited to questions reflecting on the quality or reliability of work previously carried out by the expert;
      (e) Independence, bearing in mind the closeness of any existing professional or commercial relationship, to give an objective opinion on such matters as:
      (i) Matters already reported on by the expert (e.g. on the firm's financial statements or in relation to a firm's systems and controls);
      (ii) Matters that are likely to be contentious and may result in disciplinary or other enforcement actions against the persons referred to in rule MIE-1.9.1, its management, shareholders or major shareholders; or
      (iii) Matters that the expert has been involved in, in another capacity.

    • MIE-1.9.6

      In appropriate circumstances it may be cost effective for the CBB to nominate or approve the appointment of an expert who has already acted for, or advised the persons referred to in rule MIE-1.9.1. For example, the CBB may nominate or approve the appointment of a firm's auditor to prepare a report, taking into account where relevant, the considerations set out in paragraph MIE-1.9.2.