The AICPA is basically a community of accounting professionals and CPAs. Individual: AICPA Code of Professional Conduct The purpose of the AICPA is to have a precedent of set ethical standards for the accounting profession and auditing standards of companies that are private, nonprofit organizations, federal, state and local government. In having support for those in the accounting profession and to improve the profession as a whole. It is responsible for aiding in setting certain technical standards for those accounting professional who goes on to get their licenses to becoming CPAs. The AICPA have several publication that helps with guiding the accounting profession and to enhance the member’s technical and professional abilities.
The purpose of the AICPA Code of Professional Conduct includes responsibilities, the public interest, integrity, objectivity, independence, due care and scope and nature of services. Although all of these are important principles to adhere, I think that the three most important principles are integrity, the public interest and due care. As a CPA principle conduct, integrity distinguishes that public trust is served by being honest. Honesty is an ethical value which means we should express the truth as we know it without deception. Full disclosure supports transparency and the accounting professional should disclose all information that investors, owners, creditors, and the government need to know to make informed decisions.
Foundation of ethical reasoning in accounting The AICPA is considered the foundation of ethical reasoning in accounting because its principles are a guide to members for how they are expected to perform their professional responsibilities. As an organization their aim is to instill in its membership according to ET Section 51- Preamble “The principles call for an unswerving commitment to honorable behavior, even at the sacrifice of personal advantage (AICPA.org 2006-2014). The principles are simple and direct. The principles of the AICPA are responsibilities to the public interest, integrity, objectivity and independence (independence applies to CPAs in public practice), due care, and scope and nature of services--revised May 15, 2000 (AICPA.org, 2006-2014). These principles are exemplary ideals for the accounting profession in the performance of their professional responsibilities.
AICPA Code of Professional Conduct Michelle Boucher ETH/376 May 13, 2013 Juanita Davis AICPA Code of Professional Conduct The AICPA is the foundation of ethical reasoning in accounting with its values and standards of behavior, a voluntary association of CPAs, with memberships totaling more than 350,000 professionals throughout the world and with the majority of CPAs belonging to it; they discuss the ethical obligations of CPAs. The purpose of the Principles is to guide members in performance of their professional responsibilities and commitment to honor public trust, and even sacrifice any personal benefits. Even though CPAs cannot be held legally to the Principles, they represent the expectations on the part of public performance of professional services. The Principles are values based on the profession and character traits that enable CPAs meet their obligations to the public and the Principles include responsibilities, public interests, integrity, but also to include objectivity and independence, due care, along with the scope and nature of services. (Steven M. Mintz DBA, 2011) All of the Principles of the AICPA Code are important to me, but choosing three that I think are important to me are responsibilities, the public interests, and integrity.
This principal is what helps guide professional members in performance and to honor public trust. Responsibility is the key to success and the base for strong ethical
This is not a letter of agreement, but more for educational purposes. The Process of Auditing A review and examination of a company’s financial statements is an audit. When the examination has been performed the auditor is able to express an opinion in regards to a companies financial statements, if they are fair representations or not. Audits are conducted and properly executed in compliance with all laws and regulations. WTF will outline the process in which we will be conducting the audit.
To ensure that we are performing to the best of our abilities we have to maintain our skill set. If someone comes up with a better way to do things CPAs should be open to the information and not just stuck in the way things have always been done (Mintz & Morris, 2011, Chapter Chapter 1). Reading the principles you can see that they talk about the others within their explanations, but in order to provide the best service to clients understanding the responsibilities, making sure our integrity is always intact, and maintaining our due diligence (care) in always presenting the best products should be the most important. Mintz, S., & Morris, R.E. (2011).
These standards go into detail about particular issues that come up in psychological work. Beneficence and nonmalficence is the first principle in the code of ethics. This principle outlines psychologists doing good for the people they work with, as well as not doing harm to anyone. The second principle is fidelity and responsibility. This principle is about a psychologists responsibility to the communities they work in, to society as a whole, and to their colleagues.
(Urofsky, Dennis, 2003). The importance of philosophical concepts to mental health counselors is that they serve as a framework to the code of ethics that govern the conduct of a counselor. Regardless of a counselor’s specialty, they are not only governed federal and state laws but also a code of ethics which outlines the standards of excellence in practice. According to Herlihy and Corey, the American Counseling Association (ACA) is “an educational, scientific, and professional organization whose members work in a variety of settings and serve in multiple capacities and are dedicated to the enhancement of human development throughout the life span” (Herlihy & Corey p. 27, 2006). The American Mental Health Counseling Association (AMHCA) is a professional counseling association which also represents mental health counselors and this organization is also governed by a code of ethics which members are expected to follow in education, training, and practice.
The Comparison of Ethical Codes Ethics guide not only personal life but also ones professional life. Codes of Ethics are developed for many different purposes, ultimately designed to help individuals’ better serve their clients in their professional life. Ethics represents inspirational goals, or the maximum or ideal standards, set by the profession, and they are enforced by professional associations, national certification boards, and government boards that regulate professions (Woodside & McClam, 2010). As professionals, one must understand clearly that once they act outside of their organizations Code of Ethics, they are no longer are acting as a professional with in that organization. A code of ethics supplied by a business is a specific kind of policy statement.