AICPA Code of Professional Conduct Summary - RDS (1).docx - ACCT 309 Accounting Information Systems AICPA Code of Professional Conduct(CPC Summary

AICPA Code of Professional Conduct Summary - RDS (1).docx -...

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ACCT 309 – Accounting Information Systems AICPA Code of Professional Conduct (CPC) Summary Relevant to services performed by CPAs in public accounting firms, private industry, government, education, and retired CPAs. Two main sections of the code exist: the principles and the rules , with the rules further explained by interpretations . The principles lay the foundation of the code for the specific rules, but are not enforceable. They simply outline the behavior that a CPA should strive for above minimum levels of ethical and professional conduct. Principles apply to all members . The CPC post December 2014 rules are broken down into three (3) subsections: Members in Public Practice Members in Business Other Members (Government, Education, Retired CPAs) *NOTE* - Often, several different principles or rules may apply to the violation at hand. Keep in mind that due professional care encompasses several other rules. For the PCAOB report of Moore & Associates, a different principle, rule, and interpretation could apply to the violation at hand. Example: None of M&A’s staff having adequate training or education would encompass the following CPC guidelines: Principle: Due Care (0.300.060.02) Rule: General Standards Rule (1.300) Interpretation: Competence (1.300.010) Principles (6) 1. Responsibilities – Members should exercise professional and moral judgements in all their activities. 2. Public Interest – Members should act in way that serves and honors the public interest. 3. Integrity – Members should perform all activities with integrity to increase public confidence. 4. Objectivity & Independence – Members must be free of conflicts of interest in their professional duties. They must remain independent in both fact and appearance when providing auditing and other attestation services. 5. Due Professional Care – Member must observe the technical and ethical standards of the industry and always strive to improve competence and quality of services. Basically, ensuring that the members competence leads to the highest quality level of services provided.

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