1220 0 2015, American Institute of CPAs. Used by permission. The third set of n umbers in a Code reference denotes the section. Specifically the Conceptual Framework to the rule section.010 of ET 1.000, 1.21 Sections numbered.001 are for rules Sections numbered ,005 tell you how, to apply TheCode's conceptual frameworks are located within 2.000 and Other section numbers generally refer to ethics interpretations. The following Now YOU Try walks through the Code's numbering system, and illu the application of an ethics rule, interpretation, and nonauthoritative guidance. Applying Rules and Interpretations from the Code of Conduct Assume that you are performing an audit and want to engage an external valuation firm to assist in reviewing the fair values of the client's private equity investments. However, you ae concerned about the risk of disclosing confidential client information to the valuation fim You've decided to consult the Code of Conduct for guidance on confidential client information The Rule briefly states the ethics requirement. Per ET 1.700.001 (Confidential Client Information): 01 A member in public practice shall not disclose any confidential client information without the specific consent of the client ET 1.700.005 addresses how CPAs should apply the Conceptual Framework to the conf- dential client information rule: 01 In the absence of an interpretation of the "Confidential Client Information Rule [1.700.001] that addresses a particular relationship or circumstance, a member should apply the "Conceptual Framework for Members in Public Practice" [1.000.010]