Ethics is of most importance to accounting professionals and those who rely on their services. CPA’s have an obligation to serve their clients and the public with a strict code of ethics. The Code of Professional Conduct of the American Institute of CPAs (AICPA) establishes ethical principles and rules of conduct for its members. The principles set in place by the AICPA provide universal guidelines that CPAs should strive to follow.
CPA’s should serve as their client’s moral conscience. As professionals, they serve a critical role in society. They also have a responsibility to continue to improve their skills, maintain the public’s respect and confidence, and sustain their own self governance. CPA’s who are members of the AICPA voluntarily pledge to uphold a code of professional conduct that governs their behavior (Colson, R.H., 2003). CPA’s should use those rules and guidelines as a foundation when consulting their clients on ethical and moral issues. One way CPA’s can enhance their value is by serving as a moral conscience for their clients. If CPA’s observed or may be suspicious of their client’s behavior as unethical or immoral, they should make efforts to meet with those clients and assess the situation. It would be very easy to sever ties with the client if immoral behavior was discovered. It would be more beneficial to the client and the CPA if the CPA invested in the client relationship by devoting the time to the client in rectifying its behavior. Auditors have a professional responsibility to turn in clients who are cheating on their taxes or violating other laws. Again, auditors have a vital role in serving their clients and the public. Even if the auditor has worked for a client for 20 years, they have to treat each engagement as a new account and proceed with a certain degree of professional skepticism (Schiff, 2007). Auditors have to assume cheating or violation of laws can happen at any time with any client....
References: Colson, R.H. (2003, November). Standards of Behavior: Rules Are Not Enough. The CPA Journal. Retrieved October 24, 2010. From: http://www.nysscpa.org/cpajournal/2003/1103/dept/p80.htm.
Ethics in Accounting. (2010). eNotes. Retrieved October 24, 2010. From : http://www.enotes.com/business-finance-encyclopedia/ethics-accounting
Fraud and Tax Crimes. (2009). Retrieved October 24, 2010. From: http://www.taxattorneydaily.com/topics/ch-10-fraud-and-tax-crimes.php#the-auditor- suspects-you-of-fraud
Schiff, A. (2007, March). PCAOB Reemphasizes Auditor Duties. The Trust Professional. Retrieved October 24, 2010. From: http://www.nysscpa.org/trustedprof/307a/tp1.htm
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