The AICPA Code of Professional Conduct
Part one of the AICPA code comprises of the principles. This part of the code of professional conduct gives ultimate standards of ethical conduct (Duska, Duska & Ragatz, 2011). The principles give a structure for the rules of conduct and they are normally enforceable.
The state boards of accountancy help in implementing the principle of AICPA that states that public accountancy should be practiced by only qualified licensee (Duska, Duska & Ragatz, 2011). This is normally enforceable.
The codes of the state societies of CPA observe principles that help in serving the professional requirements of the Certified Public Accountants (Crawford, & Loyd, 2008). They ensure educating different personalities about CPA and their services and also encourage students to take accounting courses. These codes are not enforceable.
The Institute of Management Accountants’ Statement of Ethical Professional Practice aims at providing a forum for research, education, practice development, and advocating for the highest ethical practices in accounting and finance management as per the principles of AICPA (Duska, Duska & Ragatz, 2011). It is not always enforceable
The institute of internal Auditors’ Code of Ethics ensures that ethical culture in internal auditing profession. Internal auditing works hand in hand with accounting and therefore, this institute helps to ensure ethics in internal auditing in order to meet the principles in accounting and this is to be enforceable.
The AICPA statements on standards for tax services are standards enforceable to members of the AICPA regardless of the types of taxes and the jurisdictions in which they practice. SSTSs inform members about their responsibilities to the public, taxpayers, the government and their profession (Duska, Duska & Ragatz, 2011).
Accounting codes have almost the same requirement of demonstrating high standard of professional conduct and to put the public interest into consideration (Crawford, & Loyd, 2008). This is to create public trust on financial matters. The codes help to meet the responsibilities by providing the ethical guideline to be followed.
References
Duska, R. F., Duska, B. S., & Ragatz, J. (2011). Accounting ethics. Chichester, West Sussex, U.K: Wiley-Blackwell.
Crawford, Michael A., & Loyd, D. Scot. (2008). Cpa's Multistate Guide to Ethics and Professional Conduct 2008. Cch Inc.
