The American Institute of Certified Public Accountants is asking the Federal Trade Commission to exempt accountants and accounting firms from the “Red Flag” rules intended to combat identity theft.

Just as the FTC extended the compliance deadline for the rule to Nov. 1, AICPA President Barry Melancon sent a letter to the FTC asking for certified public accountants and accounting firms in general to be exempt from the rule. FTC postponed the rule because of confusion over how it applies to smaller companies and those with a low risk of identity theft—especially those that aren’t directly in the credit business but may be caught in the definition because they bill their customers and carry accounts receivable.

The rule requires creditors and financial institutions with covered accounts to implement programs to identify, detect, and respond to the warning signs, or “red flags,” that could indicate identity theft. The AICPA, like many groups, worries that a broad interpretation would sweep in accounting firms simply because they bill their customers for services instead of requiring immediate payment.

“We are concerned with the potentially broad application of the Red Flag Rules to the accounting profession, and do not believe that there is any reasonably foreseeable risk of identity theft when CPA clients are billed for services rendered,” Melancon wrote. “As trusted advisors, CPAs are personally acquainted with their clients and adhere to strict privacy requirements related to identifying information.”

Nancy Cohen, senior technical manager at the AICPA, said the AICPA objection is similar to that raised by other professional groups, such as the American Medical Association, American Dental Association, and American Bar Association. “We don’t see a reasonable risk of identity theft,” she said. “We know our clients. CPAs know who comes to their office.” CPAs already adhere to privacy requirements that in many ways already protect against the risk of identity theft, she said.

The FTC has already published answers to some frequently asked questions about how the new rule will apply, and it has promised additional guidance to clarify further.