CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

C H A R A C T E R C O U N T SC H A R A C T E R C O U N T S

CHAPTER 6

ProfessionalCodes of Conduct

Chapter 6 SLIDE 2

CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

ProfessionalCodes of Conduct

Most professional organizations have a code of professional conduct to guide the actions of their members.

One of the best-known codes of professional conduct is that of the American Institute of Certified Public Accountants (AICPA).A national organization of over 340,000 certified

public accountants, the AICPA seeks to help its members provide professional services that benefit their employees, clients, and society.

Chapter 6 SLIDE 3

CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

ProfessionalCodes of Conduct

An important component of this mission is the AICPA Code of Professional Conduct.

The Code contains Rules of Conduct that its members must follow in their performance of professional services.

Chapter 6 SLIDE 4

CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

ProfessionalCodes of Conduct

The Rules address the topics of independence, integrity, objectivity, client relations, and colleague relations.Some Rules have Interpretations that provide further

insight into the Rules.The Code is also supported by Ethics Rulings, a

series of questions and answers that the AICPA elects to share with its members.

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CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

ProfessionalCodes of Conduct

AICPA members who fail to adhere to the Code can be disciplined or expelled from the membership.

Losing membership in the AICPA can result in serious consequences for a certified public accountant working in the profession.

Chapter 6 SLIDE 6

CENTURY 21 ACCOUNTING© South-Western, Cengage Learning

ProfessionalCodes of Conduct

InstructionsAccess the AICPA’s Code of Professional Conduct at

www.aicpa.org.Citing the exact source of each answer, determine

whether a member of the AICPA may:

1. Accept a gift from a client.

2. Charge a client a fee based on the net income reported on the audited income statement.

3. Advertise professional services in television commercials.