Discussion: AICPA Professional Code of Conduct
dealing with issues such as professional ethics, the stakes can be
high. This is why such care is taken to painstakingly clarify terms such
as integrity and independence in the AICPA Professional Code of
Conduct, as they could otherwise be open to interpretation. In this
week’s discussion, you will find illustrative examples of these key
principles to share and discuss with your peers.
First, review the terms and definitions identified in the “Principles of Professional Conduct” section of the preamble to the AICPA Professional Code of Conduct.
Select one of the principles (e.g., responsibilities, public interest,
integrity, objectivity and independence, due care, or scope and nature
of services) and research a current event that demonstrates that
principle being threatened or otherwise not adhered to. (This does not
need to be a case strictly about accounting—it could be any relevant
business scenario. If you have trouble finding a current event, you can
create a hypothetical scenario related to your final project business.)
In your responses to your peers, consider what safeguards could be
applied to address the scenarios that your peers have presented. How
would you act in that scenario? What actions or strategies could you or
others take to remediate the ethical issues?
To complete this assignment, review the Discussion Rubric document.
Peer Post 1
Aicpa is a code of conduct is to ensure that its members serve the
interests of their clients with a high degree of integrity, technical
competency, and diligence. Gives them rules and guidelines to follow as
well. So a scenario that would fit in the general standard rules is not
following protocol. Say Dave was my CPA and recorded a sale of
merchandise on the last day of the third quarter. Dave never received
notification of a sales invoice or record to ascertain that the sales
transaction had actually occurred or gone through. Although this was a
departure from company policy, Dave recorded the transaction without
confirming the transaction was completed. Dave did not exercise his
professional care and had a responsibility to obtain efficient up to
date records that would provide him with thge knowledge he needed to
perform his job duties. Therefore this would be coinsidered a violation
of general standard rules.
Peer Post 2
Aicpa is a code of conduct that provides guidance and rules to all
members and help establish a performance scale in ones professional
responsibilities. The principles of the Aicpa are responsibilities, the
public interest, integrity, objectivity, independence, and preamble.
There are alot of current events that are in violation with the public
interest code. Mainly, the public interest code is to ensure trust
people and the organization and ensure privacy between ones information.
With the recent data breaches in big corporations and credit unions it
is in violation of the people interest because that information is now
public knowledge which of course breaks the privacy agreement between
customer and the organization.