AICPA Code of Professional Conduct

Question 1

Acts Discreditble Rule

Answer 1

CPA who doesn’t return client documents

Fails to file a tax return

Question 2

Exception to Acts discreditble rule

Answer 2

May retain prepared records / work products in custody that was not previously provided to client. Fees must be paid before return

Question 3

Contingent fees (preparing original/amended tax returns) are not allowed. What is the exception to this rule

Answer 3

Results of judicial proceedings or findings of Gov’t agencies (IRS)

Question 4

Form of Organization and name rule

Answer 4

Public practice firm (Attest, Tax, Management advisory services) must be over 50% owned by CPAs