The role of Consultants is not to make decisions for their clients but to assist them in making fully informed decisions. To that end, all substantive advice should be clear and transparent with relevantand appropriate data presented objectively.

Where the Consultant is appointed to advise the client, there should be a clear commitment for the Consultant to make available to the Client an agreed set of disclosures at the outset of the engagement and then annually thereafter. This will include information on the scope and cost of work provided by the Consultant's firm to the client. 

Consultants should be straightforward and honest in all professional and business relationships. This implies a duty to deal with matters fairly and openly.

Management of Conflicts to Ensure Objectivity
Consultants should not allow conflict of interest or influence of others to override professional or business judgments and must ensure that they provide the best and most appropriate advice to the client as possible. A key to managing such conflicts is to ensure clarity in identifying to the client, establishing the role expected of the Consultant and agreeing the processes and protocols to be followed.

  • Consultants will not accept fees contingent on the introduction of new remuneration arrangements or the remuneration package (s) agreed for executives of the corporate clients
  • Consultants will not adopt the role of his client  firm’s manager for the provision of non-related services on accounts.
  • Where a Consultant is aware of any limitations in their advice, they should make their Client aware of such limitation
  • These protocols should be kept under review to ensure that any perceived or real conflicts of interest are dealt with.

Competence and Due Care
The principle of competence and due care means that clients are entitled to have confidence in a Consultant's work and imposes an obligation on Consultant to maintain their knowledge at an appropriate level and carry out their work in a careful, thorough and timely manner. 

Consultant respect the confidentiality of information acquired as a result of professional and business relationships and does not disclose such information to third parties without proper and specific authority from the client unless there is a legal or professional right or duty to disclose.