If any standard set forth in this Code of Conduct is, in the vendor's judgment, deemed to violate an applicable local law it must advise Federated promptly in writing.

即使要按行为守则中规定的标准，根据供应商的判断，如果违反了当地所用的法律就必须赶紧书面通知联合百货公司。

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This regulatory oversight, supplemented by private liability deemed appropriate under local law, provides powerful incentives for audit firms to comply with, and even exceed, applicable professional standards.

FORBES: Auditors Abandon Investors On Liability Limits