Ethics AICPA Code of Professional Conduct

    Because of recent financial disasters in the news, the board of
    directors of your company decided that they wanted to ascertain that the
    organization’s code of ethics was appropriate and in agreement with the Code of
    Professional Conduct (CPC) as adopted by the American Institute of Certified
    Public Accountants (AICPA). Therefore, you have been asked to provide this
    assurance with a report to the CFO of your organization.
    Create a report of 4–5 pages including thefollowing:
    ·
    Review the 6 principles in
    the AICPA’s CPC.
    o State what you assess to be the primary purpose of each of the 6
    principles.
    The principles of the AICPA’s Code of Professional Conduct
    include the following (Ethics and Independence, 2011):

    Responsibilities
    that require that CPAs carry out their duties as professionals exercising
    ethical and moral judgment in all aspects of their activities are present.
    Public
    interest trust is a principle of obligation to behave and demonstrate
    professionalism and commitment to their trade.
    Integrity
    is to be demonstrated in all aspects of their professional
    responsibilities with the ultimate purpose of maintaining and broadening
    public confidence.
    CPAs
    are to remain independent and avoid conflict of interest situations in all
    their duties and responsibilities.
    They
    must exercise due care by members and observe standards of ethics and
    professional technical nature in the continued strive for competence
    improvement and quality of services.
    Scope
    and nature of services should be limited to those regarding auditing the
    financial statements, accounting, tax, financial planning, and litigation
    support services.

    Ethics and independence. (2011). Retrieved from the American Institute of Certified Public
    Accountants Web site:.org./InterestAreas/CenterForAuditQuality/Resources/CAQAuditLibrary”>http://aicpa.org./InterestAreas/CenterForAuditQuality/Resources/CAQAuditLibrary

    ·
    Analyze the codes of
    conduct of at least 3 major public U.S. companies.

    Include citations for each of
    these companies’ codes of conduct.

    ·
    Identify connections and
    relationships of the principles included.
    ·
    Explain how the 6
    principles relate to those identified in your analysis of the codes of conduct
    of the 3 chosen companies.
    ·
    Prepare a recommended list
    of at least 7 essential elements that must be included in your organization’s
    code of conduct based on your analysis and assessment.

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