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CHAPTER 6

CHAPTER 6. Professional Codes of Conduct. Professional Codes of Conduct. Most professional organizations have a code of professional conduct to guide the actions of their members.

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CHAPTER 6

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  1. CHAPTER 6 ProfessionalCodes of Conduct

  2. Chapter 6 ProfessionalCodes of Conduct • Most professional organizations have a code of professional conduct to guide the actions of their members. • One of the best-known codes of professional conduct is that of the American Institute of Certified Public Accountants (AICPA). • A national organization of over 340,000 certified public accountants, the AICPA seeks to help its members provide professional services that benefit their employees, clients, and society.

  3. Chapter 6 ProfessionalCodes of Conduct • An important component of this mission is the AICPA Code of Professional Conduct. • The Code contains Rules of Conduct that its members must follow in their performance of professional services.

  4. Chapter 6 ProfessionalCodes of Conduct • The Rules address the topics of independence, integrity, objectivity, client relations, and colleague relations. • Some Rules have Interpretations that provide further insight into the Rules. • The Code is also supported by Ethics Rulings, a series of questions and answers that the AICPA elects to share with its members.

  5. Chapter 6 ProfessionalCodes of Conduct • AICPA members who fail to adhere to the Code can be disciplined or expelled from the membership. • Losing membership in the AICPA can result in serious consequences for a certified public accountant working in the profession.

  6. Chapter 6 ProfessionalCodes of Conduct • Instructions • Access the AICPA’s Code of Professional Conduct at www.aicpa.org. • Citing the exact source of each answer, determine whether a member of the AICPA may: 1. Accept a gift from a client. 2. Charge a client a fee based on the net income reported on the audited income statement. 3. Advertise professional services in television commercials.

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