ACCT 495 Exercise 10 AICPA Code of Conduct

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School

Franklin University *

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495

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Accounting

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Apr 3, 2024

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1 Exercise 10: AICPA Code of Conduct Sherri Clevenger Franklin University ACCT-495-U1WW Professor Edward Schaffer March 24, 2024

2 Exercise 10: AICPA Code of Conduct There are thieves and criminals who do not have morals as they damage other people’s property, and they are considered bad people. There are some people who help the poor and do charity are considered good people and have morals. So, you can find different kinds of people who have good morals and those who do not. Morals are the existing standards developed by society that empower people to live in a cooperative manner. It defines what is right and what is not right. Ethics are the moral principles that are the foundation of a person’s behavior. The part of the AICPA Code of Professional Conduct that would apply to John, who is an auditor with a public CPA firm is the PCAOB professional conduct. Part 1 of the Code applies to members (of the AICPA) who are in public practice. That is, CPAs engaged in performing professional services for a client must apply this part of the Code. The part of the AICPA Code of Professional Conduct that would apply to Susie, who works as a CPA for PepsiCo, would be part of Part 2 of the Code which applies to members in business. These CPAs work, either through employment, on a contractual basis, or as a volunteer, in areas such as industry, the public sector, education, the not-for-profit sector, or for regulatory or professional bodies. These individuals might work for the business as an executive, a staff member, in governance (such as on the company’s Board), or in an advisory or administrative capacity. Farhat, who is a retired CPA, but no longer practices accounting would be part of Part 3 in the Code that applies to members who are not in public practice, nor in business. Such members include individuals who are retired or unemployed.

3 Part 1, topic 200, section 001, paragraph 01 of the AICPA Code of Conduct would be cited as ET 1.200.001.01. The Responsibilities principle of the AICPA Code of Conduct requires that service and public trust not be subordinated to personal gain and advantage. This would be cited as 1.800.001. Integrity Principles maintain and broaden public confidence for all professional responsibilities with the highest sense of integrity. Integrity principles elements professional responsibilities with the highest sense of integrity. Integrity principles characterize the fundamental to professional recognition. The ET 1.600.100.01 refers to A member who should refer to the applicable state accountancy laws and board of accountancy rules and regulations for guidance regarding the use of the CPA credential. If a member fails to follow the accountancy laws, rules, and regulations on use of the CPA credential in any of the jurisdictions in which the CPA practices would be considered to have used the CPA credential in a manner that is false, misleading, or deceptive and in violation of the “Advertising and Other Forms of Solicitation Rule”. E.S. 4.2, Dignity and Integrity, members should strive, through their actions, to promote the dignity and integrity of the profession, and to ensure that their representatives and employees conform their conduct to this Code.

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