Article #4
Abstract. The article reviewed was Revised AICPA Code of Professional Conduct. The key of the abstract is to demonstrate the improvements in AICPA Code of Professional Conduct that provides details on ethics for public accounting firms and business entities (p. 62).
Introduction. The author studies sections of the revised code that provides an assistance on ethical rulings and violations of the conduct to interested groups. The main objective of the research is to describe processes that are relevant to CPAs practices, specifically in conflicting situations. The revised code provides a guidance on how to resolve existing conflicts and comply with rules, applicable laws, and regulations. The study and analysis of the revised AICPA …show more content…
The author uses a systematic review of literature in the research. The researcher studies the conceptual framework of the revised code of conduct and its specific rules. The researcher examines specific rules of the conduct to determine whether their use can overcome intimidations to compliance. Among those rules are integrity and independence, compliance with standards and accounting rules, contingent and referral fees, confidentiality, and discreditable acts. The author refers to the Securities Exchange Act of 1934, Section 10A to emphasize reporting requirements; and Sarbanes-Oxley Act, Dodd-Frank Act. New York stock Exchange to show violations of law due to interest threat (pp. 65-68).
The literature review is categorized into three categories: 1) new section of the code “Ethical Conflicts”, 2) incorporation of ethical rules, and 3) new threats. The researcher selected eleven sources published between 1934 and 2014 focusing on federal laws, regulations, and interpretations of …show more content…
The author uses the mapping and brings numerous examples to emphasize the advantages of the Revised Code. It is a great tool to make ethical decisions, increase competency in performance of professional services, and improve the compliance with accounting rules and GAAP (p. 71).
Conclusions. The discussion and comparison analysis of the Revised Code of Conduct proves the research question. The study demonstrates the need for the new conceptual framework for business and public accounting professionals. The author advises using the new provision as a guidance in CPAs ethical conflicts and applying rules that safeguard the relationships with the client.
Limitations. The study is limited due to CPA firms and three sections of the Revised AICPA Code of Conduct. These limitations do not reduce the value of
Abstract. The article reviewed was Revised AICPA Code of Professional Conduct. The key of the abstract is to demonstrate the improvements in AICPA Code of Professional Conduct that provides details on ethics for public accounting firms and business entities (p. 62).
Introduction. The author studies sections of the revised code that provides an assistance on ethical rulings and violations of the conduct to interested groups. The main objective of the research is to describe processes that are relevant to CPAs practices, specifically in conflicting situations. The revised code provides a guidance on how to resolve existing conflicts and comply with rules, applicable laws, and regulations. The study and analysis of the revised AICPA …show more content…
The author uses a systematic review of literature in the research. The researcher studies the conceptual framework of the revised code of conduct and its specific rules. The researcher examines specific rules of the conduct to determine whether their use can overcome intimidations to compliance. Among those rules are integrity and independence, compliance with standards and accounting rules, contingent and referral fees, confidentiality, and discreditable acts. The author refers to the Securities Exchange Act of 1934, Section 10A to emphasize reporting requirements; and Sarbanes-Oxley Act, Dodd-Frank Act. New York stock Exchange to show violations of law due to interest threat (pp. 65-68).
The literature review is categorized into three categories: 1) new section of the code “Ethical Conflicts”, 2) incorporation of ethical rules, and 3) new threats. The researcher selected eleven sources published between 1934 and 2014 focusing on federal laws, regulations, and interpretations of …show more content…
The author uses the mapping and brings numerous examples to emphasize the advantages of the Revised Code. It is a great tool to make ethical decisions, increase competency in performance of professional services, and improve the compliance with accounting rules and GAAP (p. 71).
Conclusions. The discussion and comparison analysis of the Revised Code of Conduct proves the research question. The study demonstrates the need for the new conceptual framework for business and public accounting professionals. The author advises using the new provision as a guidance in CPAs ethical conflicts and applying rules that safeguard the relationships with the client.
Limitations. The study is limited due to CPA firms and three sections of the Revised AICPA Code of Conduct. These limitations do not reduce the value of