Chapter 4 - Professional Ethics Flashcards
Rule 101
Independence
Rule 102
Integrity and Objectivity
Rule 201
General Standards (GAAS or PCAOB)
Rule 202
Compliance with Standards
Rule 203
Accounting Principles (GAP)
Rule 301
Confidential Client Information
Rule 302
Contingent Fees
Rule 501
Acts Discreditable
Rule 502
Advertising and other forms of solicitation
Rule 503
Commissions and referral fees
Rule 505
Form of Organization and Name
Principles
Ideal standards of ethical conduct in philosophical terms. Not enforceable
- Responsibilities
- The public interest
- Integrity
- Objectivity and independence
- Due care
- Scope and Nature of Services
Rules of Conduct
Minim standards of ethical conduct stated as specific rules. Enforceable (Rule 101, 102, 201,etc)
Interpretations of the rules of conduct
Interpretations of the rules of conduct by the AICPA division of professional ethics. Not enforceable but practitioner must justify departure
Ethical rulings
Published explanations and answers to questions about the rules of conduct. Not enforceable but practitioner must justify departure
