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PL: Sec. 101. (a) No State, or political subdivision thereof, shall have power to impose, for any taxable year ending after the date of the enactment of this act. USC: (a) Minimum standards No State, or political subdivision thereof, shall have power to impose, for any taxable year ending after September 14, 1959.
- Composition, Applicability, and Compliance
- Article I—Responsibilities
- Article II—The Public Interest
- Article III—Integrity
- Article IV—Objectivity and Independence
- Article V—Due Care
- Article VI—Scope and Nature of Services
- Introduction
- —Independence
- .02 101-1—Interpretation of Rule 101
The Code of Professional Conduct of the American Institute of Certified Public Accountants consists of two sections—(1) the Principles and (2) the Rules. The Principles provide the framework for the Rules, which govern the performance of professional services by members. The Council of the Ameri-can Institute of Certified Public Accountants is auth...
In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities. .01 As professionals, certified public accountants perform an essential role in society. Consistent with that role, members of the American Institute of Certified Public Accountants have responsibiliti...
Members should accept the obligation to act in a way that will serve the public interest, honor the public trust, and demonstrate commitment to professionalism.
To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity.
A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities. A member in public practice should be independent in fact and appearance when providing auditing and other attestation services.
A member should observe the profession's technical and ethical standards, strive continually to improve competence and the quality of services, and discharge professional responsibility to the best of the member's ability.
A member in public practice should observe the Principles of the Code of Professional Conduct in determining the scope and nature of services to be provided. .01 The public interest aspect of certified public accountants' services requires that such services be con-sistent with acceptable professional behavior for certified public accountants. Inte...
Identifying and evaluating threats to independence—Identify and evaluate threats, both individu-ally and in the aggregate, because threats can have a cumulative effect on a member’s independ-ence. Where threats are identified but, due to the types of threats and their potential effects, such threats are considered to be at an acceptable level (that...
In performing an attest engagement, a member should consult the rules of his or her state board of accountan-cy, his or her state CPA society, the Public Company Accounting Oversight Board and the U.S. Securities and Exchange Commission (SEC) if the member's report will be filed with the SEC, the U.S. Department of Labor (DOL) if the member's repor...
Independence shall be considered to be impaired if:
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Apr 17, 2020 · Members in Public Practice – Public practice means the performance of professional services for a client by a member or a member’s firm. This also includes government auditors, provided they meet the specific criteria laid out in the Code of Professional Conduct.
Institute of Certified Public Accountants is authorized to designate bodies to promulgate technical standards under the Rules, and the bylaws require ad-herence to those Rules and standards. The Code of Professional Conduct was adopted by the membership to pro-vide guidance and rules to all members—those in public practice, in industry,
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Dec 15, 2014 · 0.100 Overview of the Code of Professional Conduct.01 The AICPA Code of Professional Conduct (the code) begins with this preface, which applies to all members The term member, when used in part 1 of the code, applies to and means a member in public practice; when used in part 2 of the code, applies to and means a member in business; and when ...
On January 28, 2014, the new codified AICPA Code of Professional Conduct was adopted by the AICPA’s Professional Ethics Executive Committee (PEEC). Most parts of the new Code of Professional Conduct became effective on December 15, 2014. The conceptual frameworks and some sections are effective December 15, 2015, but earlier adoption is ...
Aug 4, 2021 · Professional codes are an important part of a sound ethical education. 3 They provide a framework for the recognition and resolution of ethical issues found in clinical practice. 8 Good ethical practice has been linked to improved clinical care. 18 Therefore, having the knowledge and understanding to apply a professional code is an important ...
