The American Institute of CPA’s The American Institute of CPA’s (AICPA) provides a Code of Professional Conduct to its members. The purposes of the Code are to protect the public and raise public confidence in the profession, to provide guidance in respecting the confidentiality of clients and employer’s, and to maintain these high standards through the sharing of information with members. Protect the Public The first purpose, protection of the public and to raise public confidence in the accounting
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The American Institute of Certified Public Accountants (AICPA) was originally founded in 1887. The AICPA founded accounting as profession, which is distinguished by high professional standards, strict educational requirements, a detailed code of professional standards, and a commitment to serving the public interest. In the early years of the organization rules and regulations were drafted. During the 1970s the responsibility of setting generally accepted accounting principles (GAAP) was transferred
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This work of ENG 121 Week 5 Quiz consists of the next questions ans answers for them: 1. February is my least favorite Month. 2. Many students mistakenly believe that anything that appears in print must be a fact. Especially in textbooks. 3. Lucia works for a lawyer who depends on her for everything. Answering phones, planning business trips, proofreading documents, and scheduling appointments. 4. Helen has now begun to recognize that she has not spent enough time with her closest
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One thru Three TSBPA Code of Professional Code Question 1 | | 10 / 10 points | Texas State Board of Public Accountancy regulates the practice of public accountancy in Texas. | | True | | | False | Question 2 | | 10 / 10 points | Membership in the AICPA is voluntary, but by accepting membership, a CPA assumes an obligation of self-discipline and agrees to adhere to the Code. | | True | | | False | Question 3 | | 10 / 10 points | The AICPA Rules of Conduct apply to all professional
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by the American Institute of Certified Public Accountants Code of Professional Conduct. Specifically, Rule 102 regarding integrity and objectivity was used to determine what constituted as integrity and objectivity in the practice of a CPA acting as the moral conscience of their client. Rule 301 was used to determine whether information should be disclosed in the instance of fraud. Based on the information in the code of professional conduct, it was determined that CPAs have a responsibility for the
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Chapter 03 Professional Ethics True / False Questions 1. The Rules portion of the AICPA Code of Professional Conduct must be followed by only those members in private practice. True False 2. The AICPA Code of Professional Conduct derives its authority from the Bylaws of the AICPA. True False 3. An immaterial loan from the CPA to an officer of a client impairs the independence of the CPA. True False 4. Financial interests of a CPA's nondependent
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Chapter 03 Professional Ethics True / False Questions 1. The Rules portion of the AICPA Code of Professional Conduct must be followed by only those members in private practice. True False 2. The AICPA Code of Professional Conduct derives its authority from the Bylaws of the AICPA. True False 3. An immaterial loan from the CPA to an officer of a client impairs the independence of the CPA. True False 4. Financial interests of a CPA's nondependent
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Jeff Favoroso Acct. 4501 – day class October 7, 2013 Codes of Conduct The American Institute of Certified Public Accountants (AICPA), Statements on Standards for Tax Services (SSTS), and Institute of Management Accountants (IMA) all provide professional codes of conduct that set standards for accountants and other financial professionals. All three present their standards regarding how the professionals in each organization must conduct their business. These standards include the basic guidelines
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A code of professional conduct is an essential factor that contributes to an effective business environment, and overall business success. In accounting, a code of conduct is vital due to the sensitivity and exposure of confidential information. When there’s a lack of compliance to the code of ethics, there is a greater chance/opportunity for crimes to begin to engage. Some examples of the biggest crimes in regards to businesses involve the Enron case, a case concerning an energy company declaring
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Code of Professional Ethics and Conduct Code of Professional Ethics and Conduct The AICPA adopted a Code of Professional Ethics and Conduct made up of various rules to provide guidance to members on the performance of their professional responsibilities (Strayer, 2011). All of the rules set forth by the CPA are enforceable under the AICPA bylaws. These bylaws enforced by the Joint Ethics Enforcement Program which
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