Explain the difference between the attorney-client privilege and the accountant-

Question

• Explain the difference between the attorney-client privilege and the accountant-client privilege. Why is this an important distinction? Why do you think that the law doesn’t provide the same level of privilege for accountants as it does for attorneys?
• In 2008, the SEC approved a plan to replace GAAP and GAAS with IFRS. Explain the general differences in these standards. Why do you thing the SEC is not using IFRS. Do you think this is a good change or a bad change? Why?

• Explain the difference between the attorney-client privilege and the accountant-client privilege. Why is this an important distinction? Why do you think that the law doesn’t provide the same level of privilege for accountants as it does for attorneys?
• In 2008, the SEC approved a plan to replace GAAP and GAAS with IFRS. Explain the general differences in these standards. Why do you thing the SEC is not using IFRS. Do you think this is a good change or a bad change? Why?

Explanation / Answer

Attorney- Client Privilege is actually a client privilege does not disclosure and prevent other person to discose the any confidential information and communication between the client and attorney . And Certain previlege is avaiable in fedreal and state laws in the Account - client privilege.

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