ICAEW BIP · Chapter 10 · Question 3 of 10
Mira is a management accountant at Brookfield Ltd. A former colleague who now works for a competitor asks her to share Brookfield's detailed product cost data 'informally, for benchmarking'. Brookfield has not authorised the disclosure and there is no legal or professional duty to disclose. Which fundamental principle of the ICAEW Code of Ethics would Mira most directly breach if she shared the data?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Confidentiality
Explanation
Confidentiality requires a professional accountant to respect the confidentiality of information acquired through professional and business relationships, and not to disclose it to third parties without proper and specific authority unless there is a legal or professional right or duty to disclose. None of those exceptions applies here, so disclosure to a competitor would breach confidentiality.
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