Abstract The American Institute of Certified Public Accountants (AICPA) is responsible for the Code of Professional Conduct that governs the actions of CPAs. In 1988, the Code was revised by the AICPA, but a number of issues still remain unresolved or confounded by the new Code. These issues are examined in light of the profession's stated commitment to the public good, a commitment that is discussed at length in the new Code. Specifically, this paper reviews the following issues: (1) client confidentiality and whistleblowing, (2) limited liability, and (3) auditor independence. We argue that, in each of these areas, the AICPA promotes a position that is potentially harmful to the public good. Show
Journal Information The Journal of Business Ethics publishes original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business. Since its initiation in 1980, the editors have encouraged the broadest possible scope. The term 'business' is understood in a wide sense to include all systems involved in the exchange of goods and services, while 'ethics' is circumscribed as all human action aimed at securing a good life. Systems of production, consumption, marketing, advertising, social and economic accounting, labour relations, public relations and organisational behaviour are analysed from a moral viewpoint. The style and level of dialogue involve all who are interested in business ethics – the business community, universities, government agencies and consumer groups. Speculative philosophy as well as reports of empirical research are welcomed. In order to promote a dialogue between the various interested groups as much as possible, papers are presented in a style relatively free of specialist jargon. Publisher Information Springer is one of the leading international scientific publishing companies, publishing over 1,200 journals and more than 3,000 new books annually, covering a wide range of subjects including biomedicine and the life sciences, clinical medicine, physics, engineering, mathematics, computer sciences, and economics. Rights & Usage This
item is part of a JSTOR Collection. Integrity- Integrity means being honest and candid while also maintaining client confidentiality. This principle notes members should perform all professional responsibilities with the highest sense of integrity, which is the best course of action to maintain the public trust. Which of the following is a principle of Professional Conduct defined in the aicpa code of professional conduct?Additionally, all AICPA members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the … Which of the following questions does the integrity principle of the aicpa Code of Professional Conduct address?integrity addresses the question of what is right and just. ☐ objectivity and independence: “a member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. What are the six principles of the aicpa code of professional conduct?The principles are: Responsibilities Principle, The Public Interest Principle, The Integrity Principle, Objectivity and Independence Principle, Due Care Principle, and the Scope and Nature of Services Principle. What are the ethical principles in the aicpa Code of professional ethics?The Code became effective Dec. 15, 2014. The CPA profession has long been bound by a distinctive ethical code that is based on the fundamental principles of integrity, objectivity, independence, due care and serving the public interest. Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one’s actions. What are the principles of Professional Conduct?
What is the code of Professional Conduct?A professional code of conduct is a document that explains to employees how they are expected to act on behalf of their company. A code of conduct can include elements like the values of the business, disciplinary steps, and responsibilities. Which phrase is used by the code of Professional Conduct?Which phrase is used by the Code of Professional Conduct to describe integrity? Candid, within the constraints of client confidentiality. What are the purposes of the three parts of the aicpa’s code of Professional Conduct?The code establishes standards for auditor independence, integrity and objectivity, responsibilities to clients and colleagues and acts discreditable to the accounting profession. The AICPA is responsible for drafting, revising and reissuing the code annually, on June 1. Who does the aicpa Code of Professional Conduct apply to?1. Whom does the Code of Professional Conduct govern? Bylaw section 230 explains that the Code applies to all individuals that are members of the American Institute of Certified Public Accountants. What are the six principles of the code of ethics?The six ethical principles (autonomy, beneficence, nonmaleficence, justice, fidelity, and veracity) form the substrate on which enduring professional ethical obligations are based. How many parts does the aicpa code of Professional Conduct have?The Code of Professional Conduct of the American Institute of Certified Public Accountants consists of two sections–(1) the Principles and (2) the Rules. The Principles provide the framework for the Rules, which govern the performance of professional services by members. What is the most important reason Cpas should follow professional ethics?Professional Behavior Ethics require accounting professionals to comply with the laws and regulations that govern their jurisdictions and their bodies of work. Avoiding actions that could negatively affect the reputation of the profession is a reasonable commitment that business partners and others should expect. What are the code of ethics?A code of ethics is a guide of principles designed to help professionals conduct business honestly and with integrity. … A code of ethics, also referred to as an “ethical code,” may encompass areas such as business ethics, a code of professional practice, and an employee code of conduct. What is general standard rule?General Standards Rule (AICPA) Undertake only those professional services that the member or the member’s firm can reasonably expect to be completed with professional competence. What is the integrity principle of the AICPA?Integrity- Integrity means being honest and candid while also maintaining client confidentiality. This principle notes members should perform all professional responsibilities with the highest sense of integrity, which is the best course of action to maintain the public trust.
What are the principles of the AICPA Code of Professional Conduct?The principles are: Responsibilities Principle, The Public Interest Principle, The Integrity Principle, Objectivity and Independence Principle, Due Care Principle, and the Scope and Nature of Services Principle.
Which statement best describes competence as defined in the AICPA Code of Professional Conduct?The correct answer is b. The application of skill and knowledge with reasonable care and diligence.
Which of the following rules of the AICPA Code of Professional Conduct must be observed?Which of the following rules of the AICPA Code of Professional Conduct must be observed even by a member who is not in public practice? Each of the following is an ethical principle that should guide the work of auditors in the conduct of audits under government auditing standards, except: materiality.
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What question does the integrity principle of the AICPA Code of Professional Conduct address?
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