AICPA Code Of Professional Conduct Analysis
AICPA Code of Professional Conduct
Mindi Frost
ETH/376
12/15/14
Susan Paris
AICPA Code of Professional Conduct Formally known as the American Association of Public Accountants (AAPA) in 1887, the American Institute of Certified Public Accountants (AICPA) was renamed in 1957. With over 400,000 members, the AICPA provides services on a professional level and works with state CPA entities to ensure the public is protected. According to Mintz and Morris (2011), “The principles of the AICPA Code are aspirational statements that form the foundation for the Code’s enforceable rules. The Principles include (1) Responsibilities; (2) The Public Interest; (3) Integrity; (4) Objectivity and Independence; (5) Due Care; and (6) Scope and Nature Services.” …show more content…
AICPA.org (2014) states, “The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.” (¶ 1) By taking on these responsibilities, the AIPCA can ensure the public is protected and the CPAs are following the set …show more content…
In their book Ethical Obligations and Decision Making in Accounting, Mintz and Morris (2011) mention five areas of due care that call for continued improvement, “(1) performing professional services to the best of one’s abilities; (2) carrying out professional responsibilities with concern for the best interests of those for whom the services are performed; (3) carrying out those responsibilities in accordance with the public interest; (4) following relevant technical and educational standards; and (5) properly planning and supervising engagements.” (Page 14) Due care becomes violated if a CPA does not continue to improve their skills and continue with the education to stay current on the standards that have been established by the
Mindi Frost
ETH/376
12/15/14
Susan Paris
AICPA Code of Professional Conduct Formally known as the American Association of Public Accountants (AAPA) in 1887, the American Institute of Certified Public Accountants (AICPA) was renamed in 1957. With over 400,000 members, the AICPA provides services on a professional level and works with state CPA entities to ensure the public is protected. According to Mintz and Morris (2011), “The principles of the AICPA Code are aspirational statements that form the foundation for the Code’s enforceable rules. The Principles include (1) Responsibilities; (2) The Public Interest; (3) Integrity; (4) Objectivity and Independence; (5) Due Care; and (6) Scope and Nature Services.” …show more content…
AICPA.org (2014) states, “The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.” (¶ 1) By taking on these responsibilities, the AIPCA can ensure the public is protected and the CPAs are following the set …show more content…
In their book Ethical Obligations and Decision Making in Accounting, Mintz and Morris (2011) mention five areas of due care that call for continued improvement, “(1) performing professional services to the best of one’s abilities; (2) carrying out professional responsibilities with concern for the best interests of those for whom the services are performed; (3) carrying out those responsibilities in accordance with the public interest; (4) following relevant technical and educational standards; and (5) properly planning and supervising engagements.” (Page 14) Due care becomes violated if a CPA does not continue to improve their skills and continue with the education to stay current on the standards that have been established by the