21 N.C. Admin. Code 8N.0205

Current through Register Vol. 39, No. 8, October 15, 2024

Section 08N .0205 - CONFIDENTIALITY

(a) Nondisclosure. A CPA shall not disclose any confidential information obtained in the course of employment or a professional engagement except with the consent of the employer or client.

(b) Exceptions. This Rule shall not be construed:

(1) to relieve a CPA of any reporting obligations pertaining to Section .0400 of this Subchapter;

(2) to affect in any way the CPA's compliance with an order of a court or a validly issued subpoena by this Board;

(3) to preclude the CPA from responding to any inquiry made by the AICPA Ethics Division or Trial Board, by a duly constituted investigative or disciplinary body of a state CPA society, or under state statutes;

(4) to preclude the disclosure of confidential client information necessary for the peer review process;

(5) to preclude the CPA from assisting the Board in enforcing the accountancy statutes and rules;

(6) to affect a CPA's disclosure of confidential information to state or federal authorities when the CPA concludes in good faith based upon professional judgment that a crime is being or is likely to be committed;

(7) to affect a CPA's disclosure of confidential information when such disclosure is required by state or federal laws or regulations; or

(8) to prohibit a CPA from revealing information:

(A) in order to establish a claim or defense on behalf of the CPA in a controversy between the CPA and a client;

(B) to establish a defense to a criminal charge or civil claim against the CPA based upon conduct in which the client was involved; or

(C) to respond to allegations in any proceeding concerning the CPA's professional services to the client.

21 N.C. Admin. Code 08N .0205

Authority G.S. 55B-12; 57D-2-02; 93-12(9);
Eff. April 1, 1994;
Amended Eff. February 1, 2004; April 1, 2003;
Readopted Eff. February 1, 2016.

Authority G.S. 55B-12; 57D-2-02; 93-12(9);
Eff. April 1, 1994;
Amended Eff. February 1, 2004; April 1, 2003.

Amended by North Carolina Register Volume 30, Issue 17, March 1, 2016 effective 2/1/2016.

Amended by North Carolina Register Volume 38, Issue 07, October 2, 2023 effective 9/1/2023.