2.01 Professional responsibilities and ethics

Question 1

What are the four parts of the AICPA code of professional conduct

Answer 1

The preface which is applicable to our members

Part one public practice members

Part two members and industry

Part three all other members including retired and unemployed

Question 2

What are the six topics of the preface in the AICPA code of professional conduct

Answer 2

100overview of the code of professional conduct
200 is structure and application of the a AICPA code
300 principles of professional conduct
400 definitions
500 Non authoritative guidance
600 New revised and pending interpretations and other guidance

Question 3

Describe what is included In topic 100 of the preface in the AICPA code of conduct

Answer 3

An overview including

Explanation of the structure if the code

Members adhere to the codes rules based on an understanding the rules

CPAs are expected to follow interpretations may be required to justify departures from them

When a CPA has multiple professional roles the highest and most respected level of standard should be applied

Question 4

Describe what is included in topic 200 of the preface of the AICPA professional code of conduct

Answer 4

It describes the structure of the code and indicates it’s applicability to the services performed by a CPA

It indicates that the code applies to our professional services performed by a CPA except when rules identify services to which they do not apply

Question 5

How does Topic 200 in the preface of the AICPA professional code of conduct describe the terminology related to drafting conventions

Answer 5

Rules consider means CPA required to think about the matter is being address

Rules with evaluate requires the CPA to measure a matte’s significance

Rules with determine require the CPA to establish a conclusion or make a decision in relation to it