First of all, Sadhu, good householder, appreciation for seeing a fault.
Legal systems of sociaties often have the possibility of voluntary disclosure as a possibility to get free of remorse, look if there is a punish necessarily, and sometimes also ask the aggrieved juristic person if wishing to take part on the investigation.
Confession, (toward a teacher/good friend who has possible not equal offence), is called purification (if done toward a pure in this regard) and is already a release to be able to walk on, and the strong resolve not to do it again, knowing the disadvantage protect from repeating offend. Once confession is done, there is no more need to be pulled down, and the danger of repeating is good reduced by keep the disadvantages and risk of binding of having fallen in debt good in mind when taking on something.
(Note that this is not given for stacks, exchange or any trade that binds, but for release.)