Preview

Explain The Difference Between Privilege And The Accountant-Client Privilege

Satisfactory Essays
Open Document
Open Document
279 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Explain The Difference Between Privilege And The Accountant-Client Privilege
1) Explain the difference between the attorney-client privilege and the accountant-client privilege. Why is this important distinction? Why do you think that the law doesn’t provide the same level of privilege for accountants as it does for attorneys?
• The different between the attorney-client privilege and the accountant-client privilege is the communication. The attorney is protected by law, and the accountant is protected by state statute. They both are required to have the permission of the client for confidential information to be revealed. The accountant communication is not a privilege under the law than the attorney and his or her client (Miller, 2014, p.534). I think the law doesn’t provide the same privilege for accountants because

You May Also Find These Documents Helpful

  • Powerful Essays

    412 Study Guide

    • 19517 Words
    • 79 Pages

    Role of the Accountant. Accountants have particular expertise in advising clients in this area due to a broad understanding of the use of financial accounting methods (e.g., LIFO inventory and depreciation systems).…

    • 19517 Words
    • 79 Pages
    Powerful Essays
  • Good Essays

    Acc 555 Week 2

    • 636 Words
    • 3 Pages

    D) The SEC and PCAOB rules allow CPA’s to provide tax services for audit client, except or tax services for company executives who oversee financial reporting, and tax avoiding planning services.…

    • 636 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Tax Preparing CPA

    • 619 Words
    • 3 Pages

    This is a very tricky issue of client confidentiality and it is directly related to the Internal Revenue Code 7216 and T.D. 9608. The Internal Revenue Code 7216 was sanctioned in 1971 and it originally says that if a tax preparer recklessly or knowingly discloses any client information, or uses these…

    • 619 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Organizational Chart 719

    • 532 Words
    • 2 Pages

    An accountant's job is to record, analyze and report a company or individual's financial status. The accountant functions as an advisor. The client reviews the bookkeeping services and what accountant is telling them about their financial state to make adjustments as needed. More specifically, an accountant keeps accurate…

    • 532 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    com 455

    • 311 Words
    • 2 Pages

    4. The accountant should obtain a level of knowledge of the accounting principles and practices of the entity’s industry. -both…

    • 311 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Provide several examples of how the line between legal practice and other activities “get blurred”. Do you think someone needs to be a lawyer to handle legal matters well?…

    • 437 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Acc/325 Phase 2

    • 983 Words
    • 4 Pages

    Auditors are to keep all information they obtain during the audit confidential. Audits would not work properly without the client’s assurance of confidentiality. This being said, there are a few legal exceptions that grant individuals or organizations the right to some…

    • 983 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    ACCG 315 reflaction 2

    • 673 Words
    • 2 Pages

    According to industry partner’s presentation, that accountant has variety roles in the verification field. The auditor should ensure financial statements are not materially misstated and be able to giving a true and fair view. The auditor should demonstrate professional scepticism---being able to form an opinion. The auditor opinion is intended to provide reasonable assurance for financial statement and adding the value and credibility of the financial statement produced by management. Consequently increase the user confidence in rely on the financial statement and reduce investor’s risk. Accountant work in a professional firm as an auditor should Mitigating risk and acting as a third line of defence for clients. Using their knowledge of management accounting to help the client in controlling and minimising the risk of business, ensuring the operation of finance are in a right track. There are much more requirement for accountant working in auditing fields such as being compliance with regulatory standards, working in a collaborative team, be able to build a relationship with the client and other internal people.…

    • 673 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    attorney-client privelge

    • 764 Words
    • 4 Pages

    For my first contention, there is no benefit to the secrey requiremtnet within attorney- client privilege. It does not encourage honesty and candor. This requiremtn of confidentially limits application of the prveleg and provides a theoretical brightline for determining when the privelege’s protection begins and ends. By guaranteeing that privileged communicaions between an attorney and client, the assumption underlying the priveleg is that the client will be encouraged to be more forthright with his attorney. These enhanced discloures to the attorney will make it possible for the attorney to give more accurate advice, which will increase the clients understanding of and compliance with legal responsibiites. If we allow truth-seeking not to occur, then there is more…

    • 764 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Under the ABA Model Rules of Professional Conduct Rule 1.6, I can reveal anything discussed with client that is under confidentiality if I am confident I will be preventing my client from harming others or themselves by speaking to appropriate officials. Under this rule, I feel it is appropriate as it stands because if the client is to know I can report anything, even under confidentiality, there would be no trust and the client would then not want to disclose anything essential to their attorney. What’s most important is keeping the lines of communication open between clients and attorneys, however if a client is to threaten an action of bodily harm, or have criminal intent then attorney-client privilege should be null and void. However, this…

    • 134 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    This paper explores what I think is the constitutional flaw of our criminal justice system, attorney-client privilege. Under certain circumstances, information possessed by an attorney cannot be disclosed to others without the client 's consent because of the attorney-client privilege or certain other legal concepts. The attorney-client privilege, which dates back to the reign of Elizabeth I, was originally based on the concept that an attorney should not be required to testify against the client and, thereby, violate a duty of loyalty owed to the client. At that…

    • 1737 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    According to Rule 301 of the AICPA’s Code of Professional Conduct, a CPA should not disclose confidential client information without the consent of its client. It is important to point out that Rule 301 does not relieve a CPA from performing his or her other professional obligations. Rule 201 of the AICPA’s Code of Professional Conduct states an auditor is obligated to exercise due professional care in the completion of all services and obtain sufficient, relevant information to provide a reasonable basis for all professional judgements.…

    • 211 Words
    • 1 Page
    Good Essays
  • Good Essays

    I have always admired my family members and everything they do. Especially, my mother because i have always followed her footsteps. Even now as i grow into an adult following her footsteps has helped me more than ever with my future of becoming a paralegal. I’ve had the honor of working in a law office and gaining more interest in the profession and even more knowledge of it. In fact, “The Central Florida Paralegal Association (CEPA) was founded in 1938 to serve paralegals through continuing legal education and professional development” according to an article on paralegal411.org.…

    • 1172 Words
    • 5 Pages
    Good Essays
  • Good Essays

    17. Does a client have an attorney-client privilege regarding information given to a paralegal during the preparation of a case?…

    • 837 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Intermediate Acct 1

    • 443 Words
    • 2 Pages

    ANS: (b) what the public thinks accountants should do and what accountants think they can do.…

    • 443 Words
    • 2 Pages
    Satisfactory Essays