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Aicpa Code

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AICPA Code

The purpose of the AICPA Code of Professional Conduct (“Code”) and why it is considered the foundation of ethical reasoning in accounting is that it is a code that has been established and agreed to by members of the AICPA. This is important in that is establishes a foundation of ethical reasoning in that a regulatory body isn’t issuing rules, the Code was established and agreed to voluntarily by CPAs who are members of the AICPA.
I believe the three most important purposes of the AICPA Code of Professional Conduct (“the Code”) are the following:
1. Establishment of rules related to the Public Interest
2. Establishment of rules related to Objectivity and Independence
3. Establishment of rules related to Due Care
The following are reasons why I believe the three purposes of the Code, as stated above,are the three most important. My reasons are central to the belief in maintaining trust in the CPA profession after issues such as the Enron and Arthur Andersen scandal.
Public Interest

CPA’s conduct many types of engagements for a variety of stakeholders which rely upon CPAs to have the interests of the public in mind.

The Code states this concept well as “a distinguishing mark of a profession is acceptance of its responsibility to the public. The accounting profession's public consists of clients, credit grantors, governments, employers, investors, the business and financial community, and others who rely on the objectivity and integrity of certified public accountants to maintain the orderly functioning of commerce. This reliance imposes a public interest responsibility on certified public accountants. The public interest is defined as the collective well-being of the community of people and institutions the profession serves.

In discharging their professional responsibilities, members may encounter conflicting pressures from among each

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