Discussion: AICPA Professional Code of Conduct

Whendealing with issues such as professional ethics, the stakes can behigh. This is why such care is taken to painstakingly clarify terms suchas integrity and independence in the AICPA Professional Code ofConduct, as they could otherwise be open to interpretation. In thisweek’s discussion, you will find illustrative examples of these keyprinciples 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 natureof services) and research a current event that demonstrates thatprinciple being threatened or otherwise not adhered to. (This does notneed to be a case strictly about accounting—it could be any relevantbusiness scenario. If you have trouble finding a current event, you cancreate a hypothetical scenario related to your final project business.)

In your responses to your peers, consider what safeguards could beapplied to address the scenarios that your peers have presented. Howwould you act in that scenario? What actions or strategies could you orothers take to remediate the ethical issues?

To complete this assignment, review the Discussion Rubric document.

https://pub.aicpa.org/codeofconduct/Ethics.aspx

Peer Post 1

Holly Eaton

TheAicpa is a code of conduct is to ensure that its members serve theinterests of their clients with a high degree of integrity, technicalcompetency, and diligence. Gives them rules and guidelines to follow aswell. So a scenario that would fit in the general standard rules is notfollowing protocol. Say Dave was my CPA and recorded a sale ofmerchandise on the last day of the third quarter. Dave never receivednotification of a sales invoice or record to ascertain that the salestransaction had actually occurred or gone through. Although this was adeparture from company policy, Dave recorded the transaction withoutconfirming the transaction was completed. Dave did not exercise hisprofessional care and had a responsibility to obtain efficient up todate records that would provide him with thge knowledge he needed toperform his job duties. Therefore this would be coinsidered a violationof general standard rules.

Peer Post 2

Chemaya Stephenson

TheAicpa is a code of conduct that provides guidance and rules to allmembers and help establish a performance scale in ones professionalresponsibilities. The principles of the Aicpa are responsibilities, thepublic interest, integrity, objectivity, independence, and preamble.There are alot of current events that are in violation with the publicinterest code. Mainly, the public interest code is to ensure trustpeople and the organization and ensure privacy between ones information.With the recent data breaches in big corporations and credit unions itis in violation of the people interest because that information is nowpublic knowledge which of course breaks the privacy agreement betweencustomer and the organization.