Which of the following is a principle of aicpa’s code of professional conduct?
PRINCIPLES OF THE AICPA CODE OF PROFESSIONAL CONDUCT The principles are: Responsibilities Principle, The Public Interest Principle, The Integrity Principle, Objectivity and Independence Principle, Due Care Principle, and the Scope and Nature of Services Principle.
What are the principles of the AICPA’s code of conduct?
Additionally, all AICPA members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the …
What does the Code of Professional Conduct include?
A code of ethics and professional conduct outlines the ethical principles that govern decisions and behavior at a company or organization. They give general outlines of how employees should behave, as well as specific guidance for handling issues like harassment, safety, and conflicts of interest.
What is the Code of Professional Conduct in auditing?
Auditors have a duty to conduct themselves in a professional manner at all times and to apply high professional standards in carrying out their work to enable them to perform their duties competently and with impartiality. 32. Auditors must not undertake work they are not competent to perform.
Which of the following questions does the integrity principle of the AICPA Code of Professional Conduct address?
integrity addresses the question of what is right and just. ☐ objectivity and independence: “a member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities.
What are the six principles of professional conduct?
The principles are: Responsibilities Principle, The Public Interest Principle, The Integrity Principle, Objectivity and Independence Principle, Due Care Principle, and the Scope and Nature of Services Principle.
What is the purpose of the principles of professional conduct?
They guide members in the performance of their professional responsibilities and express the basic tenets of ethical and professional conduct. The Principles call for an unswerving commitment to honorable behavior, even at the sacrifice of personal advantage.
What is the purpose of the principles of professional conduct quizlet?
The principles indicate the profession’s responsibilities to the public, clients, and professional colleagues. The principles are designed to guide members in the performance of their professional responsibilities and meet the basic requirements of ethical and professional conduct.
Which principles within the AICPA Code of Professional Conduct require a practitioner to be free from conflicting interests?
Objectivity, Integrity and Disclosure
Under the AICPA Code of Professional Conduct, in the performance of any professional service, a member must maintain objectivity and integrity, shall be free of conflicts of interest, and shall not knowingly misrepresent facts.
Is the AICPA’s code of conduct applicable to accountants who are licensed outside the United States?
Is the AICPA’s Code of Conduct applicable to accountants who are licensed outside the United States? No. However, professional accountants who are licensed outside the United States often are bound by the IFAC Code, which is very similar to the AICPA Code.
Which of the six principles in the aicpa code of conduct is most related to Article 1.5 of the California Accountancy Act Explain your conclusion?
Which of the six principles in the AICPA Code of Conduct is most related to Article 1.5 of the California Accountancy Act? Explain your conclusion. Due Care is most related to Article 1.5 of CA Accountancy Act. Article 1.5 is based on Continuing education for certified public accountants for public interest.
Why was the AICPA Code of Professional Conduct created?
The code establishes standards for auditor independence, integrity and objectivity, responsibilities to clients and colleagues and acts discreditable to the accounting profession. The AICPA is responsible for drafting, revising and reissuing the code annually, on June 1.
Does the AICPA’s Code of Professional Conduct prohibit auditors from developing friendships with client personnel?
–There are no restrictions prohibiting auditors from becoming friend’s with client personnel.
Can auditors be friends with clients?
Therefore, the answer to the question presented earlier is no, auditors are not “friends.” The relationship between an auditor and a client must be treated with care as we are both attempting to establish a form of trust out of a necessity to survive.
Can an auditor have a relationship with the client?
The auditor-client relationship is an important interdependent relationship in the audit environment, as the financial statements are a joint product of both the client’s and auditor’s actions (Antle and Nalebuff 1991).
Can I date my ex therapist?
The American Psychological Association Code of Ethics, Section 10.05, states that psychologists do not engage in sexual intimacies with current therapy clients/patients. The American Counseling Association Code of Ethics, Section A. 5. b, prohibits intimate relations for five years.
What is dual relationship in ethics?
Dual relationships (also known as “multiple relationships”), refer to a situation in which multiple roles exist between a therapist and a client. For example, when a client is also a friend or family member, it is considered a dual relationship.