The AICPA, or the American Institute of CPAs, represents the accounting professionals in several countries. Like any other profession, there are some grey areas that without guidelines could create a mess.
The AICPA has developed a code of professional conduct which serves three main purposes: define responsibility of accounting professionals, educate the public to protect the accounting professional, and educate the public to protect the public. Responsibility
The AICPA Code of Professional Conduct says that certified public accountants have responsibilities to everyone who use their professional services. Unless you are an accounting professional, it is highly unlikely that you know all of the rules and regulations that must be abided by when it comes to bookkeeping, taxation and financial reporting.
That’s what keeps the accounting profession running; they are the experts that the rest of the world turns to for accounting services. CPA’s must maintain a level of responsibility and follow ethical standards when performing these standards. It is the accounting professional’s responsibility to do what it right, even when it’s not the popular vote to protect themselves and their client.
Public Education
As mentioned earlier, not everyone’s an accounting guru. The AICPA Code of Professional Conduct lays out the guidelines and expected conduct for accounting professionals to follow. This assists in protecting the public by giving them resources and education to know what to expect out of their accounting professional.
The Term Paper on The Role of Ethics in Professional Accounting: How Gender (sex) and education Affect Ethical Behavior
Your last name 1. The success of a business depends largely on its accounting. The role of Accounting in a business can be compared to the role the vertebral column in an organism. It is the spine, the backbone of every business. When well handled, it keeps the business profitable. Like every other professional field, professional accounting is governed by a set of principles which guide the ...
The AICPA Code of Professional Conduct sets a standard for all accounting professionals to abide by. This is not to say that there are not a few crooked individuals still out there, but hoping that all professionals follow the code, the public is in better hands. CPA Protection
Lastly, the AICPA Code of Professional Conduct assists in protecting the accounting professionals. By laying out the responsibility, integrity and due care expectations of all CPA’s, it assists the CPA in standing up for what’s right.
Situations may arise where a client attempts to bribe or bully an accounting professional into “fibbing” on financials to make their business look better than it is. But if the accounting professional abides by the AICPA Code of Professional Conduct, and makes their client aware of it, they have backing and support for doing the right thing. Closing
The AICPA Code of Professional Conduct serves 3 major purposes: define responsibility, educate public, and protect the professional. The AICPA is a huge organization that reaches many people. The more individuals that are educated, the better chance of ethical business decision making.
References AICPA-principles of professional conduct. (2013).
Retrieved from http://www.aicpa.org/Research/Standards/CodeofConduct/Pages/sec50.aspx
