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AICPA Code of Professional Conduct

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The AICPA is a voluntary association of CPA’s. There are several hundred thousands of CPA’s around the world. This association is used to discuss the ethical obligations of all CPA’s. These principles that the association has and will establish are in place to make sure that the public’s trust is honored regardless of the effect it will have on the CPA’s personal benefits. These principles are based on the values and the virtue of the CPA’s themselves. I believe that the three most important purposes of the AICPA code of professional conduct are integrity, objectivity, and due care. The purpose of the integrity principle is to make sure that the public trust is always upheld by being honest and candid without breaking client confidentiality. This principle also helps to ensure that the CPA is not using the public’s trust for personal gain or advantage. This is important because it keeps the CPA’s honest to the public and helps to ensure that they follow all ethical procedures that have been put into place. Without this code of conduct, who knows what could happen regarding the public’s trust of CPA’s.

The purpose of the objectivity principle is to make sure that each CPA is impartial to a company and remains free and clear of any conflicts of interest within the company they are auditing. This principle is only applied to CPA’s that do auditing of companies but it is very important because these CPA’s are likely the ones that may say something about a potential fraud situation. It is sometimes easier for an outsider to see a potential fraud or feel as if they can say something about it since they do not have any conflicts of interest and they are just doing their job. If they did see something that is potential fraud and they did not say something, which is unethical and could result in major punishment at a later date.

The purpose of the due care principle is to make sure that each CPA is keeping up to date with the most current standards and regulations. Regardless if you knew of a new standard or not, you are responsible to uphold the new regulation. You are still held responsible since you were the one that was supposed to keep up with these things but yet you had failed to do so. This principle is why it is a requirement for continuing education to maintain one’s CPA certificate. To conclude, it is very important to adhere to the rules and regulations set forth by the AICPA Code of Professional Conduct. This ensures the well-being of each CPA, the public, the client, as well as the shareholders. It is important to keep up with the rules and regulations to ensure that the CPA is up to date on anything new that has been put into place. The CPA is held responsible for knowing and keeping up with the rules and regulations to protect their own self as well as the public and their clients.

Mintz DBA, CPA, S. M., & Morris PhD, CPA, R. E. (2011). Ethical Obligations and Decision Making in Accounting: Text and Cases (2nd ed.). Retrieved from The University of Phoenix eBook Collection database.

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