ExpertEasy2 marksMultiple Choice
ACCA · Question 29 · Syllabus F: Professional ethics
Section A
At a highly public TechTalk industry conference, a senior accountant from a consulting firm is having drinks at the hotel bar. He loudly tells a colleague a 'funny story' about how their client, a major smartphone manufacturer, accidentally ordered 10 million defective batteries, a fact not yet known to the public or shareholders. Which fundamental ethical principle has been breached?
Section A
At a highly public TechTalk industry conference, a senior accountant from a consulting firm is having drinks at the hotel bar. He loudly tells a colleague a 'funny story' about how their client, a major smartphone manufacturer, accidentally ordered 10 million defective batteries, a fact not yet known to the public or shareholders. Which fundamental ethical principle has been breached?
Answer options:
A.
Objectivity
B.
Professional Competence
C.
Confidentiality
D.
Integrity
How to approach this question
Identify the action: sharing non-public client information in a public space. This violates the duty to keep client information secret.
Full Answer
C.Confidentiality✓ Correct
The principle of Confidentiality requires an accountant to respect the confidentiality of information acquired as a result of professional and business relationships. They must not disclose any such information to third parties without proper and specific authority, especially in public or social environments (like a hotel bar).
Common mistakes
Thinking that because it was an 'accident' or a 'funny story', it doesn't count. Confidentiality applies to all non-public information acquired during professional duties.
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