Generally accepted that rules of professional ethical conduct require that when a conflict of interest arises for an accountant,if the interest of one client may cause harm to another client:

Question

Quizplus · Accepted Answer

The most appropriate action for the accountant when a conflict of interest arises and the interest of one client may cause harm to another client is to discontinue advising both clients. This is because continuing to advise both clients would undermine the objectivity and independence of the accountant, and may result in an ethical dilemma that violates professional standards. Additionally, the accountant may breach confidentiality rules and face legal or regulatory consequences. Therefore, the accountant should choose the interest of one client over the other and advise only that client.

Generally Accepted That Rules of Professional Ethical Conduct Require That