Sharing Engagement Letter Info without affecting Confidentiality

[Tumbuktu]

Given the confidentiality obligations (USPAP & Agreement with Client), what extent of information from engagement letter can be shared with Accountant/Lawyer, if they want to know the 'Fee' and some associated identifying information about that order.

• Identifying the client (AMC, Bank etc.) by number or letter (Client A, Client 1 etc.)
• Date order was offered/assigned
• Type of assignment (1004, 2055 etc.)
• Only the name of the City & County from the address

As always suggestions and feedback would be appreciated

 

[Tawfik Ahdab]

Confidentiality applies to assignment results and any other information specified as confidential by the client at the time of engagement.

Factual data such as you bring up is not confidential per se. Reread USPAP. You have no excuse to be confused about this matter.

But there’s nothing to prevent you from denying this information to outsiders absent a court order.

 

[sputnam]

Confidentiality applies to assignment results and any other information specified as confidential by the client at the time of engagement.

Factual data such as you bring up is not confidential per se. Reread USPAP. You have no excuse to be confused about this matter.

But there’s nothing to prevent you from denying this information to outsiders absent a court order.

I agree. None of the items mentioned are confidential under USPAP unless the Client has requested that it remain condidential.

 

[Tumbuktu]

". . . unless the Client has requested that it remain confidential"
If as per agreement with the client, 'Confidential Information includes Financial Information, Fee System, Pricing of Services . . .' then would any disclosure about the Fee without identifying the client, borrower, complete address etc. be violation of the contract?

 

[sputnam]

". . . unless the Client has requested that it remain confidential"
If as per agreement with the client, 'Confidential Information includes Financial Information, Fee System, Pricing of Services . . .' then would any disclosure about the Fee without identifying the client, borrower, complete address etc. be violation of the contract?

I think we said that already.

 

[Terrel L. Shields]

". . . unless the Client has requested that it remain confidential"
If as per agreement with the client, 'Confidential Information includes Financial Information, Fee System, Pricing of Services . . .' then would any disclosure about the Fee without identifying the client, borrower, complete address etc. be violation of the contract?

Basically the disclosure is only going to be forced by a court order demanding you disclose it if the LOE states such. You do not disclose the info to anyone else, ever, period.

 

[Mark K]

Considering the very specifically worded LOE, it would be a case where I would err on the side of caution and not disclose anything unless ordered by a court.

Likely nothing to be gained and potentially a lot of trouble by divulging the info.

 

[Tumbuktu]

Supposing if I have five clients and my total fees from all of them are $zzz for a particular month. Even a vaguely worded statement 'My total income from all my clients (or sources) from Jan 01, 2023 to Jan 31, 2023, was $zzz (or in excess of $zzz) ' would be violation of the contract.

Apparently there is no way I can tell my accountant/lawyer about my income for a particular period without a court order or permission from the client. Any correct amount, even a total or approximate from all clients, can be considered 'Financial/Fee/Pricing information'

 

[George Hatch]

You're reaching.

"the fee"

for one assignment with one client who has instructed you to keep it confidential doesn't mean the same thing as​

"my monthly income".

 

[Mark K]

Supposing if I have five clients and my total fees from all of them are $zzz for a particular month. Even a vaguely worded statement 'My total income from all my clients (or sources) from Jan 01, 2023 to Jan 31, 2023, was $zzz (or in excess of $zzz) ' would be violation of the contract.

Apparently there is no way I can tell my accountant/lawyer about my income for a particular period without a court order or permission from the client. Any correct amount, even a total or approximate from all clients, can be considered 'Financial/Fee/Pricing information'

No.

Revealing your income to your CPA or your lawyer is not a potential breach of client confidentiality.

Revealing information about a specific client in violation of an agreement to maintain confidentiality is something completely different.