What does the accountant-client privilege guarantee?

The accountant-client privilege ensures the confidentiality of communications between an accountant and their client. This legal principle is designed to allow clients to discuss sensitive financial matters openly, without fear that their communications will be disclosed to others without their consent. The privilege encourages transparency, enabling clients to seek sound financial advice or report self-incriminating information to their accountants without risking that those discussions will be used against them in legal actions.

The other options do not accurately reflect the nature of the privilege. Open access to all documents contradicts the fundamental purpose of confidentiality, which protects the privacy of communications. Similarly, while the privilege may provide some protection in certain legal contexts, it does not inherently protect against criminal charges. Finally, complete anonymity is not a characteristic of the accountant-client privilege; rather, the focus is on the confidentiality of communications, not on hiding the identity of the parties involved.