Aicpa Vision Statement

While a business would either undergo a quick or gradual, constant adaptation to its changing and competitive environment, there are certain core ideas that would stay the same and provide guidance in the process of strategic decision making (www.capsim.com.). These unchanging ideals are known as the business vision. The business vision statement comprised of three main components; core values, core purpose and visionary goals (www.quickmba.com). Core values are those that would remain unchanged regardless of time, current industry environment and any management trends. Core values are the building blocks of a company and are consisted of those values which strongly hold by the company. Core purpose is the reason that

The AICPA’s Statements on Standards for Tax Services are enforceable tax practice standards for members of the AICPA. AICPA makes their member to fulfill their ethical responsibility by sustaining and improving their professional performance. These standards are the foundation of a profession and measure its members who provide tax services.

Although, the new AICPA code combines eleven understandings below the principle to provide more guidance on regulation matters. These forgiving are an extreme amount that allow for moralistic details resolutions formed below the prior code. They consist of: 1.700.005, "Use of the Conceptual Framework for Members in Public Practice and Ethical Conflicts"; 1.700.010, "Customer Competitors"; 1.700.020, "Unveiling Information From Previous Engagements"; 1.700.030, "Revealing Information to Persons or Entities Associated With Clients"; 1.700.040, "Uncovering Information to a Third-Party Service Provider"; 1.700.050, "Revealing Client Information in Connection With a Review of the Member's Practice"; 1.700.060, "Divulgence of Client Information to Third Parties"; 1.700.070, "Revealing Client Information During Litigation"; 1.700.080, "Unveiling Client Information in Director Positions"; 1.700.090, "Revealing Client Names"; and 1.700.100, "Unveiling Confidential Client Information as a Result of a Subpoena or

Article 8 gives examples on using the AICPA Code of Professional Conduct. The article gives the example of you taking over the role of handling the independence and ethical matters involved with auditing for a retiring partner in your firm. You are quickly given the task of determining whether or not your firm can provide auditing services to a client that owns a small, privately owned bank and a used car dealership. To perform work for the client you want to see the rules on how the firms will remain independent from the bank and car dealership, and you have a week to research any questions or concerns that you have with the potential client.

The vision statement of the University of California, Davis Athletics department is to be a prestigious model program in athletics and academics.

This post will discuss two ethical accounting dilemmas that could occur in the CPA profession. For each dilemma, it will explain how the dilemma could be resolved based on logic and reason. It will then support that proposed resolution through support from the American Institute of Certified Professional Accountants (AICPA) Code of Professional Conduct.

“ In order to prevent fraudulent financial reports and statements, the American Institute of Certified Public Accountants(AICPA) has created ethical standards” (Ethical standards in a financial statement, 2011). These standards aim to make financial professionals accountable for their accounting practices. This includes the integrity of financial reporting and ensuring financial reporting is done fairly and factually. Financial accountants and professionals should maintain professional integrity, objectivity, and independence to reduce the risk of resulting legal action, loss of profits, and a poor reputation if improper financial reporting is done (Ethical standards in a financial statement, 2011).

The first component of AOTA’s Centennial Vision is the key word “powerful” (AOTA, 2007, p. 613), which is the ability to exert great influence and authority (Abood, 2007). However, I feel that we are too humble, unwilling to seek and exercise power, and that could risk our profession to fulfill the Centennial Vision.

There are six principles in the AICPA Code of Professional Conduct. The responsibility principle states that members should use thoughtful professional and ethical judgment in executing their duties. The public interest principal states that members should commit to behave in a manner that will help the public interest, respects the public faith, and shows dedication to the skill expected from professionals. The integrity principle states that members should uphold and widen the public faith and execute all the duties required of a professional with the utmost honesty and moral uprightness. The objectivity and independence principle states that members should maintain impartiality and avoid situations that would undermine their impartiality.

The Administration for Children and Families mission is to “foster health and well-being by providing federal leadership, partnership and resources for the compassionate and effective delivery of human services” (ACF Vision). The Administration for Children and Families works on many levels to help build an overall good well-being for our youth, families, communities, and country that we can by educating and offering supportive services.

Accountants are held to a higher ethical standards and they must performed their duties in compliance with standards or ethical values of honesty, integrity, objectivity, due care, confidentiality, which must be fully committed to. They must put clients or public interest first before their own. They must have and ethical values and maintain those values way beyond what the society or the company’s code of ethic. It is important that accountants’ behavior or ethical values is in conformity with the

Ethics in any industry is important, but for Accounting professionals and those in need of their services, it is a particularly stressed element. Information provided by accountants is used to make major decisions, including investing, downsizing, expanding, etc, so accountants are expected to be competent, reliable, and have a high degree of professional integrity. Because of these high expectations, the professional accountancy industry, like many other professions, has adopted professional codes of ethics (Woelfel, 1986). These ethical codes go above and beyond the requirements for state or federal laws and regulations. There are several professional organizations within the

110.1 - The principle of integrity imposes an obligation on all Members to be straightforward and honest in

Businesses, investors, creditors rely on accounting ethics. The accounting profession requires honesty, consistency with industry standards, and compliance with laws and regulations. The ethics increase the responsibility and integrity of accounting professionals, and public trust. The ethical requirements influence the management behavior and decision-making. The financial scandal of Enron and Arthur Anderson demonstrates the failure of fundamental ethical framework, such as off-balance sheet transactions, misrepresentation of financial statements, inaccurate disclosure, manipulations with earnings, etc. The confronted accounting profession and concern for ethics in businesses forced regulators to revise the conceptual framework of accounting processes.

With professions having this tremendous knowledge regarding a company’s financial standing and not being able to disclose the information to the public it can create major investment errors. With these restrictions in place by the AICPA the accountants and auditors “… in a position of having to choose between earning a livelihood or making a proper ethical choice” (Synder, 2011).