Carney & Deb, an accounting firm, performs a variety of tasks for its clients, including completing financial statements and tax returns. To accomplish these tasks, Carney & Deb collects personal and financial information from the clients.

Does Carney & Deb have an ethical obligation to its clients with respect to this information? Ethics is the study of what constitutes right and wrong ______________, focusing on morality and the way in which ______________ principles are derived or the way in which such principles apply to conduct in daily life.

Sometimes, the issues that arise concern fairness, justice, and “the right thing to do.” To answer the question of the firm’s ethical obligation, you should note that the confidentiality of its clients’ sensitive personal and business information is at stake. The accountants have a(n)

______________ duty to ensure that reasonable security precautions are taken to preserve this confidentiality and protect this information.