The AICPA, through its committees and staff, interprets and enforces the AICPA Code of Professional Conduct. New ethics interpretations and rulings are promulgated by the AICPA Ethics Division.
Suppose you are the owner of a convenience store. You purchase newspapers at a fair wholesale price from a man named Harry. Each morning Harry delivers a stack of newspapers to your shop by 6:30 a.m., prior to the morning rush.
At 6:00 a.m. one morning you are walking in your neighborhood and see Harry taking a stack of newspapers from a corner. Harry places the papers in his backpack and continues on his way.
Soon after, Harry arrives at your shop to make his usual delivery. Should you continue your business with him now that you have observed him taking those newspapers?
Continue reading "Decoding the Gray Areas" »
In 2008, the AICPA Professional Ethics Executive Committee and the AICPA Professional Ethics Division undertook a project to update the AICPA Code of Professional Conduct. The new code has been launched this week. Help us spread the news by sharing this infographic!
Continue reading "Why the Revised Ethics Code is So Irresistible" »
Caffeine, check. Office supplies, check. Patience for lost or late documents, check. What else do you need for tax season besides, of course, sympathetic family and friends? Knowledge and technical resources help, as does convenience in finding them – so keep these resources from the AICPA bookmarked to help you prepare returns, manage your office, advise and communicate with clients, and even keep a sense of humor.
Continue reading "Top 10 Tax Resources for the 2014 Tax Season" »
According to a recent blog entry on the New York Times’ website, researchers have found that people who cheated, and got away with it, experienced a thrill, self-satisfaction and a sense of superiority. While that sensation was not as strong as the high that rats apparently get from eating Oreo cookies, it illustrates how exciting cheating can be. Take for instance the following:
Continue reading "Cheater’s High? Let’s Talk About the “Auditor’s High”" »
CPAs know how seriously our profession takes ethics. The AICPA’s Code of Professional Conduct applies to all AICPA members. In addition, many state CPA societies and state boards of accountancy either incorporate it by reference or use it as a starting point for their codes. The Code of Professional Conduct provides guidance on areas such as client relationships, maintaining independence and adhering to the technical standards of GAAP, GAAS and others.
The AICPA's Professional Ethics Division acts as the steward of the Code of Professional Conduct, taking a 360 degree view of ethics. It publishes a free newsletter, Ethically Speaking, which helps CPAs better understand ethics-related issues (send an email to firstname.lastname@example.org to subscribe). The Professional Ethics Division establishes, interprets and enforces these standards. To carry out its charge, the Professional Ethics Division provides a hotline that helps members understand and apply the Code of Professional Conduct properly. What’s more, monitoring hotline inquiries is one of the ways the Professional Ethics Division identifies topics that require standard setting. Using this real-time feedback, the Professional Ethics Division has been able to tackle topics that are important to the profession.
The latest exposure draft issued by the Professional Ethics Division reorganizes the Code of Professional Conduct to make it easier to navigate, understand and apply. Watch this video to learn more about the Ethics Codification project.
Continue reading "3 Things to Know About Proposed Ethics Code Revisions" »