Ethics again...

Ok, i’ll make it short but i find the answer is quite surprising… Analyst A has to make a presentation to a group of prospective clients, and he uses a valuation model developed by a collegue in an outside firm. The two analysts agree there is no need to acknowledge the author in the written report or during the presentation. Did analyst A violate the Code and Standards? Now, since both the analysts agreed to not mention the author i would tend to think that there is no plagiarism, but still the correct answer seems to be that analyst A has violated the standards… Would it be because there is a misrepresentation of the analyst competences and for not making full disclosure to clients??? Feedback is really appreciated!

Think about this, is word of mouth agreement ever ok? Agreements (ie source citing) must be written. I’m sure his memory of the agreement will become real short if a large monetary compensation came to question.