October 8, 2012
Code of Professional Conduct
The AICPA Code of Professional Conduct can be considered the foundation of ethical reasoning in accounting. The code presents rules and principles to help accountants complete their jobs with integrity and ethical decisions. The code also protects the interest of a company and the interest of the public.
The American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct was created to help individuals in the accounting profession, to perform their job while using ethical standards and integrity. The purpose of the AICPA is to provide principles and rules that govern the services provided by accountants (AICPA, 2012). The codes principles and rules protect both the public and the accounting members.
Most Important Purposes
There are many purposes of the Code of Professional Conduct but, three purposes can be considered most important. Protecting public interest is one of the main purposes. When relating to the code, public interest is known as the collective well-being of the community of people and institutions the accounting members serve (Williams, 2008). Article III of the Code of Professional Conduct relates to public interest. Under this article, the code explains that members should accept the obligation to act in a way that serves the public interest, honors public trust, and demonstrates commitments to professionalism (Williams, 2008). In order for the public to have a need for accounting services, they must trust accountants. It is imperative to the accounting field for the public to feel safe in receiving financial information from an accountant.
Other important purposes are Integrity and Due Care. Integrity is very important for accountants. The code stresses rules and principles that guide...