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The Code of Professional Conduct of the American
Institute of Certified Public Accountants consists of two sections—(1)
the Principles and (2) the Rules. The Principles provide the framework
for the Rules, which govern the performance of professional services
by members. The Council of the American Institute of Certified Public
Accountants is authorized to designate bodies to promulgate technical
standards under the Rules, and the bylaws require adherence to those
Rules and standards.
The Code of Professional Conduct was adopted by the membership
to provide guidance and rules to all members—those in public
practice, in industry, in government, and in education—in
the performance of their professional responsibilities.
Compliance with the Code of Professional Conduct,
as with all standards in an open society, depends primarily on members'
understanding and voluntary actions, secondarily on reinforcement
by peers and public opinion, and ultimately on disciplinary proceedings,
when necessary, against members who fail to comply with the Rules.
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