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Rule 301 AICPA Code Of Confidential Information

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“Cybersecurity is the body of technologies, processes and practices designed to protect networks, computers, programs, and data from attack, damage or unauthorized access (Lord, 2017).” The defining moment for cybersecurity started when the first internet worm was introduced in 1988 in MIT and resulted in the first felony conviction in the 1986 Computer Fraud and Abuse Act. Rule 301 AICPA Code of Professional Conduct Confidential information states that “members in private practice shall not disclose any confidential client information without the specific consent of the client.” (Code of Professional Conduct and Bylaws 2017). Whether you are in tax, AUDIT, advisory or other service areas, you will be in violation of this ethics requirement if your client’s information is stolen (Code of Professional Conduct and Bylaws 2017). …show more content…

Internal breaches can happen, for example, leaving your workstation unlocked, sharing logins and passwords with other co-workers, misplacing or losing sensitive documents, or by having poor internal controls where anybody can access confidential client information. The SEC Disclosure Guidance mentions that public traded companies should provide a disclosure of cyber incidents if they are issues that have a material effect that could make an investment in the company risky and speculative. (Trope, 2011). A cyber-security disclosure should adequately describe the nature of material risk and specify how each risk affects the company. Additionally, if those cyber incidents also have a material effect on a publicly traded company’s services, products, relationships with consumers and suppliers, the company should also provide a disclosure. customers and suppliers, the company “should” provide a disclosure (Trope,

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In addition, the business data will be stored on these devices, being or not protected only by the individual security awareness of each employee. Therefore, it is likely that the confidentiality of corporate data will be compromised if an employee’s device is lost or stolen. Take Godiva, a chocolate manufacturer, as an example. On November 25, 2014, they notified employees of the company of a data breach when a Human Resources employee, who was traveling to retail sites, had a briefcase stolen from a car. The briefcase contained a laptop that had employee information on it.

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The clients’ files cannot be in an exposed to the public place. The clients’ files should be saved or put in a safe place where only people with authorization have access to. Because the therapist is not aware that Merry accessed the client’s file, the therapist should talk to the receptionist about leaving unattended the client’s files, and explain to the receptionist the ethical issues regarding confidentiality. If the therapist becomes aware that Merry looked at the client’s file, the therapist should explain to Merry the importance of confidentiality. The therapist should also let the client know that his/her information was accessed by

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One may violate rule 301’s order to uphold client confidentiality when experiencing fraud and feeling justly bound to report it Confidentiality: Any information should not be disclosed to third parties without proper and specific authority except when there is a lawful or professional right as reverence to the discretion of information received as an outcome of professional business relationships by the professional

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Confidentiality is an ethical obligation and Privilege is a rule of evidence according to our text book. (Goldman, para. 3, pg. 28) Rule 1.6 of the ABA Model Rules of Professional Conduct says that lawyers are to “not reveal information relating to representation of a client”. (American Bar Association, 2016)

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It is important to notify the users about any changes company makes to privacy policy because these agreements administrate the relationship between company and its customers. The company will lawfully need to announce on their website about changes to let customers or users know when this new policy will take effect. As Milne (2000) reported, consumer privacy is enhanced when consumers are aware of information practices and are given a choice over information provision and use. The data that would be ethically responsible in sharing is to give customers the authorization to opt out if they don’t agree with any changes a company makes.

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Many times the security threats come from within the company (Chen, Ramamurthy & Wen, 2012). Employee negligence is a contributing factor to security problems. I have seen precautions taken at my workplace to battle against this issue. Certain policies have been written that help to protect the company from problems caused by employees. For example, we have a policy that keeps us from accessing social media.

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It states “the right to privacy of clients and others should be enhanced however possible and in accordance with laws. However, it may be necessary to break confidentiality when serious harm or death to clients or others may result from maintaining such confidentiality” (Rothman, 2013). By following this principle, I would make my clients aware of the privacy and confidentiality policy regarding the information shared. I would ensure the client that I would protect their privacy from the public unless danger was to occur. I would inform them that I would never discuss their personal information out in public if I were to see them outside of the

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For operational purposes, the company collects and stores confidential information about their customers, employees, suppliers, and vendors. For purposes of their rewards program, the company collects sensitive and confidential consumer information. Although security measures and information technology systems have been put in place to ensure secure transmission and storage of confidential information, security breaches, computer viruses, or even human error can occur. Any of these events could cause data to be lost or stolen, as well as disclosed and used with malicious intent. Such occurrence could lead to litigation, fines, increased security costs, and damage to

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