AICPA Code of Professional Conduct
The American Institute of Certified Public Accountants [AICPA] is a voluntary association of Certified Public Accountants (Mintz, pg. 14). The AICPA is in place to set the ethical standards for the accounting profession as well as the standards to be used by the auditing profession. The AICPA is also in charge of the CPA examination creation and grading. The AICPA code of conduct is to help provide guidance and rules to accounting professionals during the course of their responsibilities in the matter of the public interest. The code of conduct includes six principles that form the foundation for the rules of AICPA. The principles include responsibilities, public interest, integrity, objectivity and independence, due care and the scope and nature of services. I think that all of the principles are important for our profession to abide by, but the three most important principles in my opinion are due care, public interest and integrity. An accounting professional needs to continue their education and skills to abide by the rules and maintain the due care standard principle, or they will be in violation of the code of conduct. Due care ensures that services are performed to the best of the professionals abilities and to the best interest of who the services are for. I would not want someone to perform an audit for me that was not qualified to do so. I also feel that public interest is an important part of the code of conduct. By public interest, it basically means clients, employers, investors, or anyone that relies on an accountant to perform in their best interest with objectivity to resolve conflicts that may arise. It is a CPA’s responsibility to serve the best interests of all parties. Integrity in my opinion is probably the most important of the three that I picked. Integrity is best described as that the trust of the public is best served by ensuring client confidentiality, not misusing the public trust for...
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