CBA revises regulations regarding disclosure.
The California Board of Accountancy has approved plans to expand a
14-year-old disclosure requirement regarding outsourcing.
The board plans to revise Sec. 54.1 of Title 16 of the California
Code of Regulations, which prohibits the disclosure of confidential
client information without the client's consent.
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The planned revisions include a requirement that the consent from
clients to outsource their financial information be in writing.
Sec. 54.1 also will be revised to indicate that, when the CPA seeks
the client's permission, it's clear the client knows the
information may be sent to persons or entities outside of the country.
The CBA's Committee on Professional Conduct is expected to
meet May 13 to consider additional disclosure requirements.
COPYRIGHT 2004 California Society of Certified Public Accountants
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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