ACCA Advanced Audit and Assurance (AAA) Practice Exam

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Prepare for the ACCA Advanced Audit and Assurance (AAA) Exam with our quiz. Study multiple choice questions, hints, and explanations to boost your confidence. Excel in your exam!

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What must members do regarding confidential information acquired from professional relationships?

Disclose it to any interested third party
Use it for personal advantage
Keep it confidential without proper authority
Share it for educational purposes

The correct answer is: Keep it confidential without proper authority

Members are obligated to keep confidential information acquired from professional relationships confidential without proper authority. This fundamental principle is rooted in maintaining the trust and integrity of the professional relationship. Confidentiality is critical in the field of auditing and assurance, as it protects sensitive client information and upholds the ethical standards of the profession. Releasing confidential information without permission can lead to significant repercussions for both the member and the client, including legal penalties and damage to professional reputations. Therefore, the commitment to confidentiality ensures that the information remains secure and is used solely for the purpose for which it was intended, aligning with professional ethics and legal requirements. This principle fosters a culture of trust between clients and auditors, which is essential for effective and transparent business practices.