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
Speaking, which helps CPAs better understand ethics-related issues
(send an email to email@example.com 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.