Question

Write a 750-word essay on a principle from the AICPA principles section of the Code of Professional Conduct Provisions. Include the following in your essay:

Identify 1 of the 6 principles from the AICPA principles section of the Code of Professional Conduct Provisions.

Identify several rules from the rules section and show how they relate to the selected principle.

Evaluate the selected principle based on a deontological ethics perspective and a Christian worldview.

Your essay must cite at least 2 scholarly sources in addition to the AICPA Code of Professional Conduct Provisions. Be sure to include a reference list with your thread.

Answer 1

6 principles of the Code of Professional Conduct are as below,

• Resposibilities
• The Public Interest
• Integrity
• Objectivity and Independence
• Due care
• Scope and nature of Services

One of the principle I choose is Objectivity & Independence

Rules:-

• A member should maintain objectivity and be free of conflicts if interest in discharging professional responsibilities.
• A member in public practice should be independent in fact and appearance when providing auditing and other attestation services.
• Members who are not in public service may not maintain independence, they have the responsibility to maintain objectivity in rendering professional services.
• Regardless of the services provided by the members or capacity, they have to maintain objectivity,integrity and any subordination their judgement.

Deontological ethics:-

• It cosiders the moral motive behind the action independent from the consequence.
• It focusses on fairness
• Fairness takes priority over any consequences the actions would have.

Scholar source 1:- Immanuel Kant said that our primary duty is to only act in those ways in which the maxim of our acts could be made a universal law.

Eg;- If we borrow money from a company and the amount was low that the company would not notice if we do not pay back, then everyone would borrow money in small amounts and they will not repay.As with borrowing money auditor would set a lower control risk to avoid gathering more evidences.This would lead to reduction in the reliability of the auditor, and the role of auditor would be impaired.This is unethical according to Deontological ethics.