With Few Exceptions, the Code of Professional Conduct Does Not

question 58

True/False

With few exceptions, the Code of Professional Conduct does not allow an auditor to disclose confidential client information without the client's consent.

---

Definitions:

Intangible Assets

Assets that have value to a business but are not visible.

Long-Term Equity

Investments in stocks or other equity instruments that are intended to be held for a period longer than one year for potential appreciation in value.

Accounts Payable

The amounts owed by a business to its suppliers or creditors for goods and services received on credit.

Noncompete Clause

A provision often included in a contract to purchase a business that restricts the seller from entering the same type of business within a specified area for a certain amount of time.