Explain the Possible Consequences for Violating the Rule of Client

question 40

Essay

Explain the possible consequences for violating the rule of client confidentiality.

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Definitions:

Accounting Theory

A framework of principles that underlie the practice and methodology of accounting in financial reporting.

Normative Theories

Theories that prescribe how things should be or how decisions should be made, often applied in ethics, economics, and law.

Positive Accounting Theory

An accounting theory that seeks to explain and predict accounting practices, focusing on the relationships between various parties involved in accounting.

Political Contracts

Agreements made in the context of political relations, often involving government entities, which can encompass a wide range of subject matter from trade to defense.