ETH 557 AICPA Rules Of Professional Con Essay

1885 Words Jan 31st, 2015 8 Pages
AICPA Rules of Professional Conduct
Gina Crete, Candice Fuller, Jerrel Jones,
Patricia Williams
January 12, 2015
Lisa Kreuger

The governing of the behavior of Certified Public Accountants (CPA) is done by the American Institute of Certified Public Accountant (AICPA). The largest professional association for the CPAs is the AICPA. The purpose of the AICPA is to equip CPAs to fulfill their duties to the public sector.
Five Sections of the AICPA Rules of Professional Conduct
There are five sections to the AICPA Rules of Professional Conduct: Independence, Integrity, and Objectivity, General Standards Accounting Principles, Responsibilities to Clients, Responsibilities to Colleagues, and Other Responsibilities and
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It is against the rules to try to coerce anyone into doing business with particular companies. Any clients that are obtained should be done in a correct manner without the use of deception. Rule 503- Commissions and referral fees serves the purpose by making sure that accountants do not receive commissions for referring services to be rendered. It can sometimes cause problems for some accountants based on the type of work that they may do. If any does receive a fee for referral services provided by a CPA must make sure that it is disclosed. Rule 505- form of organization takes the place of rule 504 that has been deleted.
The main purpose of this rule is to prevent the practice of accounting under names that are false by a member. There are two exceptions to this code for its implementation. Members that own separate businesses all the rules would apply to them. If one has alternative practices then a different rule would apply.
Compare AICPA and IMP Code of Conduct The AICPA Code of Conduct is its fundamental set of standards for its members. It was created to ‚Äúprovide guidance and rules to all members-those in public practice, in industry, in government and in education-in the performance of their responsibilities‚ÄĚ (2007a, para. 21). The AICPA Code of Conduct is broken down into two main sections: principals and rules. The framework for the rules section is set by the principles.

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