AICPA Code Of Professional Conduct (CPA)

If any client or persons that has any financial interest in a company is offered a gift or entertainment and accepts the offer, they are in the risk of complying with the “Integrity and Objective Rule.” A client should have a firm understanding of what is acceptable when accepting a gift. There are limitations on gifts such as the price of the gift. The occasion is a factor of whether the gift is acceptable or not, and how many gifts were given or how often gifts were given is taken into account when considering acceptable gifts.

Article 8 gives examples on using the AICPA Code of Professional Conduct. The article gives the example of you taking over the role of handling the independence and ethical matters involved with auditing for a retiring partner in your firm. You are quickly given the task of determining whether or not your firm can provide auditing services to a client that owns a small, privately owned bank and a used car dealership. To perform work for the client you want to see the rules on how the firms will remain independent from the bank and car dealership, and you have a week to research any questions or concerns that you have with the potential client.

The AICPA Code of Professional Conduct discusses the need for independence among CPAs. The rule of independence states that members in public practice must remain independent when performing professional services (AICPA, 2014). Not only must they be independent in fact, they must also be independent in appearance such that informed third parties would not consider them to be lacking independence based on all relevant information (AICPA, 2014). The Code even specifically addresses the issue of unpaid fees. According to Rule 1.230.010, unpaid fees related to professional services provided to a client can cause threats to independence due to self-interest, undue influence, and advocacy threats. Specifically, the Code states that unpaid fees outstanding for over one year would impair a CPA’s independence (AICPA, 2014). Therefore, in this situation, the CPA

Introduction The code of ethics guides all helping professions in addressing and finding a solution to situations that need to remain true to the standard of conduct for counselors, and does not cause harm to any parties involved. However, each code for each helping profession looks different in terms of ethical standards. Making it important to compare the two to view the similarities and differences shared in each code. This paper will examine the American Counseling Association’s (ACA) code of ethics with the American School Counselor Association Ethical Standards for School Counselor’s (ASCA).

Canada is a multicultural country. Healthcare providers, therefore, face certain challenges associated with this. The CMA Code of Ethics recommends that “physicians provide patients with whatever information that will, from the patient's perspective, have a bearing on medical care decision-making and communicate that information in a way that is comprehensible to the patient.” [1]. This statement has a very important message, which implies that the truth telling is not a mandatory burden that every patient must endure but rather a stage-like process delivered by a healthcare provider and guided by the patient.

Great post! I like how you applied participants from different ethnic and cultural backgrounds. In section A of the ACA code of ethics (2014), it focuses on the counseling relationship, that they encourage to actively attempt to understand the diverse culture backgrounds of the clients they serve.

The CPA is there to help the business. In this case, the CPA was not the best, but the CPA could help with the financial process. Setting better controls, which would make his job then easier.

There are multiple precautions and/or practices that private practitioners can adopt that will minimize their liability, while also promoting the best possible practice and therapy for their clients. Following the Code of Ethics, while maintaining current educational and supervision practices also help.

In the old NMC (2008) Code; Standards of conduct, performance, and ethics for nurses and midwives, stated it 'must not discriminate in any way against those in your care.' Holland and Hogg (2010) argue that nursing is to have a consideration of the cultural knowledge, to which they highlight nursing in Australia which has embedded a notion of multiculturalism. The Australian Code of Professional Conduct (2008) states that 'Nurses respect the dignity, culture, ethnicity, values and beliefs of people receiving care and treatment.' The revised NMC (2015) Code; Professional standards of practice and behaviour for nurses and midwives, state nurses should ' avoid making assumptions and recognise diversity and individual choice.' Making nurses aware

Caterpillar, Inc. just like other corporations have a legal obligation to establish ground rules and to abide by the law under which businesses are expected to operate. There is a codified ethics that businesses must abide by and those code of conducts includes responsibilities to abide by the rule of conducts in their financial reporting. This is especially important for the accountants of businesses because accounting professionals most likely are subject to the AICPA code of professional conduct that involves rules and policies in professionalism and ethics. In recent similar cases of tax evasion, the Internal Revenue Service (IRS) and the Department of Justice (DOJ) has taken enforcement action in the offshore tax avoidance issues. The

Choosing to become a CPA in Virginia requires some time and forethought. In order to sit for the CPA exam in the Commonwealth of Virginia, an individual must have at least a Bachelor’s degree with a minimum of 150 credit hours, and have the degree with a focus on accounting. While being an accounting major is ideal, a minimum of 24 credit hours of accounting courses as well as 24 hours of business courses is a requirement within the required one hundred and fifty credit hours. ("18VAC5-22-70. Education.", 2017) The accounting courses are to include auditing, taxation, financial and management accounting.

When looking at the IMA Statement of Ethical Professional Practice, there were some steps that Betty Vinson could have taken to avoid any of the punishments that were given to her. Before following any of the IMA’s recommended actions of recourse, Vinson should have referred to WorldCom’s recognized policies on ethical behavior and follow the actions that they have written and approved to take. If WorldCom’s executives still were demanding her to falsify the journal entries after following her company’s policy, then the IMA would state that she should have discussed the issue with your immediate supervisor or the next level of management if her supervisor was involved in the unethical activity. One important thing to note with this, however, is that “Contact with levels above the immediate superior should be initiated only with your superior’s knowledge, assuming he or she is not involved (Institute of Management Accountants, 2005).

The code of ethics and conduct is a written set of rules and regulations that provides guidance to employees of an organization on how to conduct themselves and carry out their duties in line with the organization’s principles. The code of ethics and conduct is also be backed up by suitable disciplinary actions. A code of ethics and conducts helps employees deal with ethical issues and other gray areas that they face as they execute their daily activities. An effective code of ethics and conduct is required for an organization to run smoothly and maintain a positive image. Having an ineffective code of ethics and conduct is almost like having none.

The AICPA Code of Professional Conduct, regardless of its numerous strengths, the Code of Professional Conduct has some serious weaknesses. The accounting profession is constantly changing and making improvements. The first weakness in the Code of Professional Conduct deals with conflictions within the code due to the code being constantly updated (Dienhart, 1995). Dienhart, Lunday, and Tavani have all criticized professional codes because the directives cause conflictions with one another, whether it is direct or indirect. Rule 301 and SAS No. 99 are examples when the code is having conflicting standards. Rule 301, Client Confidential Information, states that professionals shall not

Any organisation that have the usage of IT system needs to have policies in place that specify all the actions needed to deal with certain problems.