ACCA AA · Chapter 4 · Question 10 of 11
In which of the following situations is an auditor required to disclose confidential client information without the client's consent?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) When the auditor knows or suspects money laundering and the law requires a report to the relevant authority
Explanation
Confidential information may be disclosed without consent only where required or permitted by law or where there is a professional duty to do so. Anti-money laundering legislation commonly requires reporting of knowledge or suspicion. Disclosure to acquirers, competitors or banks requires the client's consent.
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