Monty is a licensed Certified Public Accountant. Last year he prepared an individual income tax return for Apple Bakeries, Inc. This year Apple Bakeries switched to a different tax return preparer. This year he is preparing income tax returns for a completely separate business, Cinnamon Roll Bakery, Inc. The owner of Cinnamon Roll asked Monty to give him the tax return data from Apple Bakeries, to help estimate the tax liability of Cinnamon Roll Bakery, Inc.
Is there a professional responsibility issue for Monty to consider in satisfying Cinnamon Roll's request? If so, what is the issue?

Question

Quizplus · Accepted Answer

The Answer of Monty is a licensed Certified Public Accountant. Last year he prepared an individual income tax return for Apple Bakeries, Inc. This year Apple Bakeries switched to a different tax return preparer. This year he is preparing income tax returns for a completely separate business, Cinnamon Roll Bakery, Inc. The owner of Cinnamon Roll asked Monty to give him the tax return data from Apple Bakeries, to help estimate the tax liability of Cinnamon Roll Bakery, Inc.
Is there a professional responsibility issue for Monty to consider in satisfying Cinnamon Roll's request? If so, what is the issue?

Monty Is a Licensed Certified Public Accountant