In a business surrounded by money like accounting, a sense of trust needs to be formed between the client and the accountant. An accountant needs to know who he or she can and cannot share a client's information with. Whenever someone's bank accounts or cash are being handled, you have to trust that the accountant isn't going around telling everyone how much money is in which accounts. State law recognizes that a business relationship between a client and the accountant must be confidential. However, federal law does not distinguish between a confidential accountant-client relationship. The accountant must protect information from others, which causes clients to talk more openly about their money and accounts. In the Chartered Institute of Management Accounting's code of ethics, section 140 is directed at confidentiality. This section includes who may learn about a customer's information, whether or not to include a third party, and what should happen if a business relationship is terminated. This section protects information such as payroll data and account history. The privacy section is segmented into specific statements to ensure customer privacy is protected. Section 140.5 states that “a professional accountant must take reasonable steps to ensure that staff under his control and persons from whom he obtains advice and assistance respect the professional accountant's duty of confidentiality.” (CIMA Code of Ethics) This particular declaration serves to ensure that anyone who works for an accountant must respect the same confidentiality as the accountant. For example, a receptionist who is filing documents must not talk about what he saw in the accountant's document... middle of the paper... code of ethics, there is no freedom of action for accountants in their profession therefore leaves no room for errors. As an accountant, having a reputation for good confidentiality can keep your company in the competitive market. When people know that a company is trustworthy, they are more likely to do business with them. In the long run, confidentiality between a client and an accountant is beneficial to all parties involved. Works Cited "CIMA Code of Ethics". nd Chartered Institute of Management Accountants. November 5, 2013 .Kokemuller, Neil. Chron. 2013. November 10, 2013. Nordmeyer, Billie. azcentral.com. 2013. November 5 2013 .