Q-143 Certified public accountants have imposed on themselves a rigorous code of professional conduct. Required: a. Discuss the reasons that the accounting profession adopted a code of professional conduct. b. One rule of professional ethics adopted by CPAs is that a CPA cannot be an officer, director, stockholder, representative, or agent of any corporation engaged in the practice of public accounting, except for the professional corporation form expressly permitted by the AICPA. List the arguments supporting the rule that a CPA's firm cannot be a corporation.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Q-143
Certified public accountants have imposed on themselves a
rigorous code of professional conduct.
Required:
a. Discuss the reasons that the accounting profession adopted a
code of professional conduct.
b. One rule of professional ethics adopted by CPAs is that a CPA
cannot be an officer, director, stockholder, representative, or
agent of any corporation engaged in the practice of public
accounting, except for the professional corporation form
expressly permitted by the AICPA. List the arguments supporting
the rule that a CPA's firm cannot be a corporation.
Transcribed Image Text:Q-143 Certified public accountants have imposed on themselves a rigorous code of professional conduct. Required: a. Discuss the reasons that the accounting profession adopted a code of professional conduct. b. One rule of professional ethics adopted by CPAs is that a CPA cannot be an officer, director, stockholder, representative, or agent of any corporation engaged in the practice of public accounting, except for the professional corporation form expressly permitted by the AICPA. List the arguments supporting the rule that a CPA's firm cannot be a corporation.
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