Final answer:
c) Allows the CPA to share client information for marketing purposes
The statement that is NOT true regarding the client confidential information rule is that it allows a CPA to share client information for marketing purposes. The fundamental ethical principle mandates that CPAs maintain client confidentiality, prohibit unauthorized disclosure, and require informed consent before sharing any client details.
Step-by-step explanation:
The question is regarding the rule that governs a CPA (Certified Public Accountant) with respect to client confidential information. To identify the statement that is not true about this rule, we must understand the obligations and ethical principles of CPAs concerning client confidentiality.
Client confidentiality requires that a CPA must maintain the confidentiality of client information, which means they cannot disclose any client information without explicit consent, except as required by law. This is an ethical commitment that is fundamental to the professional conduct of CPAs. It helps to protect the client from personal harm and respects their right to privacy and dignity.
The option that the CPA is allowed to share client information for marketing purposes is incorrect. The CPA professional standards prohibit using client information for marketing or any personal benefit without the client's consent. This protects the integrity of the confidential relationship between the CPA and their client and is also part of seeking informed consent before sharing any such information.
Thus, the correct answer to the question, "Each of the following is true regarding the client confidential information rule EXCEPT," is c) Allows the CPA to share client information for marketing purposes.