You have recently become Head of Finance at Company B, a company which provides catering services to the public sector. Your previous employer, Organisation A, was large public sector entity where, as finance manager, you had the opportunity to work on areas relating to financial accounting, procurement, contracts and bids.

One of Company B’s major contracts is with Organisation A. The contract is now up for renewal, and Company B is preparing a competitive bid for this contract. You have been asked to lead the team responsible for bidding for this contract, but you are concerned that you might breach confidentiality if you accept this assignment. You also suspect that your knowledge and experience of Organisation A were seen as good reasons for appointing you to the position at Company B.

You do not want to let your new employer down. The loss of such a major contract would have a significant effect on the financial performance of Company B and its performance-related bonus scheme for management.

Questions:

As a professional accountant in business:

(a) Which fundamental principles feature more prominently for safeguarding?

(b) What would be your key considerations in your approach to resolving the dilemma presented?