L21 Notes_Part_22 - client’s consent EX product cost...

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Confidential Client Information Rule 301 A member in public practice shall not disclose any confidential client information without the specific consent of the client. To comply with a valid subpoena To meet GAAP or GAAS disclosure requirements As required by an authorized peer review body As part of an investigative or disciplinary proceeding Four Situations Where CPAs Can Disclose Confidential Information
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Section 300: Responsibility to Clients 301. Confidentiality (definition = shall not divulge confidential information about the client without the
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Unformatted text preview: client’s consent. EX: product cost information, next season's marketing campaign, future earnings projections, executive salaries Distinguish from privileged communication. Medicine, law, clergy. State statute but not federal. purpose free flow of communication between auditor and client prevent loss of competitive advantage, insider trading, client privacy (e.g., executive payroll) Trust ->privilege -> Info flow -> confidentiality –> trust...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

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L21 Notes_Part_22 - client’s consent EX product cost...

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