The AICPA is a Code of Professional Conduct that inform individuals what they are mainly accountable for and what their performance on professional services should be comprise of. Throughout these codes, there are many guidelines that range from the most to least authoritative. The principles provide and overview of what the code of conduct is, meanwhile the set of guidelines helps enforces the code to individuals. The code of conduct has four parts including the preface, a part that applies to the individual in the public practice, business members, and the rest of other individuals. The code of conduct does not only apply to only those auditors in public practice, instead it applies to all individuals out there that belongs to the American
I agree with you in your position because I too believe the CPA does not have to advise Ahi on its plan to earn interest on their $100,000,000 tax liability to the IRS by mailing the check from the U.S. Virgin Islands to create a float. Article seven, scope and nature of services, of the AICPA Code of Professional Conduct sates that the CPA should observe the principles of the Code in determining the scope and nature of services provided (Colson, 2004). Ahi employee’s plan is not part of the CPA competencies in regards to taxation; the activity does not seem to be consistent with the CPA’s role. This plan should have probably been discussed within the finance or accounting department in Ahi Corporation.
We as business owners, management and or in a role of authority must set, address and comply with a solid foundation of ethics. “A code of conduct is the single most important element of your ethics and compliance program. It sets the tone and direction for the entire function. Often, the code is a standalone document, ideally only a few pages in length. It introduces the concept of ethics and compliance and provides an overview of what you mean when you talk about ethical business conduct.”
If any client or persons that has any financial interest in a company is offered a gift or entertainment and accepts the offer, they are in the risk of complying with the “Integrity and Objective Rule.” A client should have a firm understanding of what is acceptable when accepting a gift. There are limitations on gifts such as the price of the gift. The occasion is a factor of whether the gift is acceptable or not, and how many gifts were given or how often gifts were given is taken into account when considering acceptable gifts.
You then go onto the online version of the AICPA Code of Professional Conduct and search to find
The Ontario Professional Planners Institute has outlined a standard of practice in which professional planners part of OPPI have certain rights and responsibilities. These guidelines are outlined in the Professional Code of Practice and focus on promoting higher professional standards by improving ethics and practice (OPPI, n.d.). The Professional Code of Practice is the basis for planning practice. The CIP outlines its core values which focus on addressing public interests and values. The values are standards that planners must consider when taking on professional planning responsibilities. The CIP is also broken down into three categories; planner’s responsibility to the public, to clients/employers, and their responsibility to other members
The NMC (2015) Code of Professional Conduct states that the nurse should "...act at all times in such to safeguard and promote the interests of individual patients and clients". The action of AMU nurse did not comply with this clause while caring for Ms Lisa. It was the ignorance and placed Ms Lisa in a position that was about to cost her Life. Therefore this attitude can not be acceptable.
There are six principles in the AICPA Code of Professional Conduct. The responsibility principle states that members should use thoughtful professional and ethical judgment in executing their duties. The public interest principal states that members should commit to behave in a manner that will help the public interest, respects the public faith, and shows dedication to the skill expected from professionals. The integrity principle states that members should uphold and widen the public faith and execute all the duties required of a professional with the utmost honesty and moral uprightness. The objectivity and independence principle states that members should maintain impartiality and avoid situations that would undermine their impartiality.
The APA code of ethics general principles intent is to guide and inspire psychologist toward the highest ethical standards of the profession. The five basic principles are beneficence and nonmaleficence, fidelity and responsibility, integrity, justice, and respect for people’s rights and dignity.
This video representation of what not to do during an IFSP meeting brought up many interesting examples why it is so essential for professionals to follow a code of ethics. NAEYC Code of Ethical Conduct sets a standard that should be made visible throughout any and every interaction a professional has with a child and their family. This video does not present that these professionals use this ethical code as a guide when they interact with the mother.
Accounting and management are the major pillars of an organization that contributes to the country’s economy. Introduction of AICPA Code of Professional Conduct helps in controlling the business operation especially in the accounting and management departments. Accounting and management fraud have been experienced whereby through corruption or other means, entrusted managers and accountants tend to be selfish in undertaking their duties. These factors are well addressed by the AICPA Code of Professional Conduct principles. Therefore, the study seeks to introduce two case studies whereby the management fraud have been experienced. Furthermore, the study will incorporate the use of AICPA Code of Professional Conduct in controlling the situation to ensure harmonious business operation in the management.
When looking at the IMA Statement of Ethical Professional Practice, there were some steps that Betty Vinson could have taken to avoid any of the punishments that were given to her. Before following any of the IMA’s recommended actions of recourse, Vinson should have referred to WorldCom’s recognized policies on ethical behavior and follow the actions that they have written and approved to take. If WorldCom’s executives still were demanding her to falsify the journal entries after following her company’s policy, then the IMA would state that she should have discussed the issue with your immediate supervisor or the next level of management if her supervisor was involved in the unethical activity. One important thing to note with this, however, is that “Contact with levels above the immediate superior should be initiated only with your superior’s knowledge, assuming he or she is not involved (Institute of Management Accountants, 2005).
The code of ethics and conduct is a written set of rules and regulations that provides guidance to employees of an organization on how to conduct themselves and carry out their duties in line with the organization’s principles. The code of ethics and conduct is also be backed up by suitable disciplinary actions. A code of ethics and conducts helps employees deal with ethical issues and other gray areas that they face as they execute their daily activities. An effective code of ethics and conduct is required for an organization to run smoothly and maintain a positive image. Having an ineffective code of ethics and conduct is almost like having none.
It is one thing to establish a code of ethical conduct for an organization in the public sector, but it is quite another to really impress upon all employees the importance of living up to that code of conduct. What makes a code of conduct and how can management be assured that all employees understand the code and follow it's values and guidelines? How do not-for-profit professions stack up against for-profit professionals when it comes to ethics? This paper delves into codes of conduct in the public and sector and provides a review of several scholarly articles that present specific instances where codes of conduct are part of the workplace culture.
The AICPA Code of Professional Conduct, regardless of its numerous strengths, the Code of Professional Conduct has some serious weaknesses. The accounting profession is constantly changing and making improvements. The first weakness in the Code of Professional Conduct deals with conflictions within the code due to the code being constantly updated (Dienhart, 1995). Dienhart, Lunday, and Tavani have all criticized professional codes because the directives cause conflictions with one another, whether it is direct or indirect. Rule 301 and SAS No. 99 are examples when the code is having conflicting standards. Rule 301, Client Confidential Information, states that professionals shall not
Codes of conduct are policies including rules such as maintaining honesty, attitude, and respect (Traveler, 2009) for co-workers, the organization and customers. Only by separation of personal ethical choices in the work place, will an organization succeed and flourish. It is never appropriate for any employee, management or otherwise, to conduct business for personal gain. The people who become harmed lose trust, confidence, and the expectation of themselves and of the people who chose to put their personal ethical choice before the needs of the customer and business.