AICPA Rules of Professional Conduct
Gina Crete, Candice Fuller, Jerrel Jones,
January 12, 2015
The governing of the behavior of Certified Public Accountants (CPA) is done by the American Institute of Certified Public Accountant (AICPA). The largest professional association for the CPAs is the AICPA. The purpose of the AICPA is to equip CPAs to fulfill their duties to the public sector.
Five Sections of the AICPA Rules of Professional Conduct
There are five sections to the AICPA Rules of Professional Conduct: Independence, Integrity, and Objectivity, General Standards Accounting Principles, Responsibilities to Clients, Responsibilities to Colleagues, and Other Responsibilities and…show more content…
Accountants must not ensure clients that if their auditing services are used it will make them look better than if they used other companies.
Section four of the AICPA Rules of Professional Conduct is Section 400 – Responsibilities to Colleagues. This section is currently not being used. This section is being saved for future rules on the responsibilities to one’s colleagues. The purpose of this section is for accountants to know what should take place when someone does something illegal and must be addressed. It is also important to make sure that their own actions are accounted for when it comes to working with others in the financial field.
Section five of the AICPA Rules of Professional Conduct is Section 500 – Other Responsibilities and Practices. This section is for any and all rules that do not fall under the first four sections. The rules under this section currently cover acting discreditable, advertising and other forms of solicitation, commission and referral fees, and form of organization.
Nature, Purpose, and Implementation of Each Rule There are four rules in this section of the code. Rule 501- acts discreditable serves one main purpose is to ensure that no harm will be brought to reputations bases upon ones actions by dishonorable acts. Just like many other corporations it is inappropriate to discriminate in any manner. One must also make sure that they are following