If a prospectus contains any statement purporting to be made by an expert (e.g. the reporting accountant), then the expert must have given and not withdrawn his consent to the issue of the prospectus with the statement in the form and context in which it is included.
A statement that consent has been given and not withdrawn must be included in the prospectus.
An example of a letter of consent is
We hereby consent to the issue of the prospectus dated 14th May 2004 issued in connection with the offer for sale of ten million shares of Going Places Group Ltd with the inclusion therein of our report dated 14th May 2004 and the references thereto, and the references to our name. In the form and context in which they appear. We attach a copy of the document initialled by us for the purposes of identification.
The letter of consent should be available for public inspection and except for quoted companies, be filed with the Registrar of Companies.
Before signing a letter of consent, the reporting accountant should review the whole prospectus to ensure that the information in it is not inconsistent with anything in his report. He is none-the-less not responsible for anything except his own report.