ExpertEasy2 marksMultiple Choice
ACCA · Question 27 · Business & Technology
Section A
A consultant at "M&A Advisors" is working on a highly secretive merger between two large tech companies. Over the weekend, he tells his friend about the upcoming merger, knowing his friend won't trade on the information.
Which IFAC fundamental principle has the consultant breached?
Section A
A consultant at "M&A Advisors" is working on a highly secretive merger between two large tech companies. Over the weekend, he tells his friend about the upcoming merger, knowing his friend won't trade on the information.
Which IFAC fundamental principle has the consultant breached?
Answer options:
A.
Objectivity
B.
Confidentiality
C.
Integrity
D.
Professional Competence
How to approach this question
The consultant shared secret client information with an unauthorized third party. This is a textbook confidentiality breach.
Full Answer
B.Confidentiality✓ Correct
The principle of Confidentiality requires professionals to respect the confidentiality of information acquired as a result of professional relationships and not disclose it to third parties without proper and specific authority.
Common mistakes
Assuming no breach occurred because the friend didn't trade on the information.
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