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AICPA Ethics Codification Project

The AICPA Ethics Codification Project aims to provide a user-friendly, well-organized code without altering requirements significantly. Incorporating threats, safeguards, and a conceptual framework approach, the project enhances drafting conventions for clarity. Check the project page on aicpa.org for detailed information.

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AICPA Ethics Codification Project

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  1. AICPAEthics Codification Project As of January 24, 2014

  2. Ethics Codification Objective • Create user friendly, intuitively arranged Code • Revise without making significant changes to existing requirements and restrictions • Clarity through better drafting conventions • Substantive changes will follow due process • Incorporate conceptual framework approach • Incorporate threats and safeguards • Conceptual framework only applies when no guidance in Code exists • Cannot be used to override existing requirements

  3. Ethics Codification Objective cont. • Incorporate references to division’s nonauthoritative guidance • Physically different – Separate parts • Part 1: Members in public practice • Part 2: Members in business • Part 3: All Other Members • On-line Codification with enhanced functionality • Project Page on aicpa.org. Contains information such as: • Mapping Documents • Informational Video and articles • Project Timeline • Drafting Guidelines www.aicpa.org/InterestAreas/ProfessionalEthics/Community/Pages/aicpa-ethics-codification-project.aspx

  4. Questions Slide 4

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