Code Of Professional Ethics

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Rule 101

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Independence

A member in public practice shall be independent in the performance of professional services as required by standards promulgated by bodies designated by the Council.

1) Independence is defined as having the ability to act with integrity and objectivity. Primary relationships which hinder objectivity are a) financial and b) those where the CPA is virtually a part of management or an employee under management's control.

2) While the appearance of independence is not required in MAS and tax work, it is desirable.

Independence is "in fact" required and "in appearance" desirable.

Front 2

Rule 102

Back 2

Integrity and Objectivity

In the performance of any professional service, a member shall maintain objectivity and integrity, shall be free of conflicts of interest, and shall not knowingly misrepresent facts of subordinate his or her judgment to others.

Front 3

Rule 201

Back 3

General Standards

A member shall comply with the following standards and with any interpretations thereof by bodies designated by Council: Professional competence, Due professional care, Planning and supervision, Sufficient relevant data

Front 4

Rule 202

Back 4

Compliance With Standards

A member who performs auditing, review, compilation, management consulting, tax, or other professional services shall comply with standards promulgated by bodies designated by Council.

Front 5

Rule 203

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Accounting Principles

A member shall not

1) express an opinion or state affirmatively that the financial statements or other financial data of any entity are presented in conformity with GAAP

or 2) state that he or she is not aware of any material modifications that should be made to such statements or data in order for them to be in conformity with GAAP, if such statements or data contain any departure from an accounting principle promulgated by bodies designated by Council to establish such principles that has a material effect on the statements or data taken as a whole. If, however, the statements or data contain such a departure and the member can demonstrate that due to unusual circumstances the financial statements or data would otherwise have been misleading, the member can comply with the rule by describing the departure, its approximate effects, if practicable, and the reasons why compliance with the principle would result in a misleading statement.

Front 6

Rule 301

Back 6

Confidential Client Information

Front 7

Rule 302

Back 7

Contingent Fees

Front 8

Rule 501

Back 8

Acts Discreditable

Front 9

Rule 502

Back 9

Advertising and Other Forms of Solicitation

Front 10

Rule 503

Back 10

Commissions and Referral Fees

Front 11

Rule 505

Back 11

For of Organization and Name