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“Disclosure to third parties is permitted if it is required to protect member’s interest”
can you please explain (with short example) what does this statement mean?
I think this is referring to disclosure that is required (rather than permitted) when the third party is a court/police/lawyer or someone otherwise relevant to legal proceedings. And it means professional interest. It is item iii in this extract from the Code:
“There is a professional duty or right to disclose (when not prohibited by law):
(i) To comply with the quality review of ACCA or another professional body;
(ii) To respond to an inquiry or investigation by ACCA or another professional or regulatory body;
(iii) To protect the professional interests of a professional accountant in legal proceedings; or
(iv) To comply with technical and professional standards, including ethics requirements.”An auditor could not make a disclosure to any third party to protect a personal financial interest (for example).
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