Question

AICPA’s Code of Professional Conduct How does this set of guidelines relate to mitigating breakdowns of ethical reasoning? Provide at least two examples of how the AICPA guidelines work to strengthen the business climate of a firm and prevent breakdowns within a system. What ethical theory underpins the AICPA Code of Professional Conduct? By Thursday of this week, submit substantive initial posts of at least 250 words that answer or address the issues in the discussion board.

 

 

Answer 1

Conventionally, accounts are required to remain professional and vigilant with their respective clients and follow their code of conduct to the latter; thus, it remains their nature always to act ethically. In accordance to AICPA (2015b), a CPA is usually prepared when people run into a conflict with "obstacles to following an appropriate course of action due to both internal and external pressures” (p.29) or with any "conflicts when applying relevant professional standards or even legal standards" (p.29). Consequently, it focuses on preventing and monitoring breakdowns from occurring and re-occurring purposely to strengthen an organization's ethical environment or climate. For instance, it provides detailed and well-articulated procedures to the accountant in situations where an ethical conflict is encountered. Moreover, deontology is one of the essential ethical theory that underpins the AICPA Code of Professional Conduct. This is because deontology needs an individual to carefully follow their duty to show respect to others and treat them with a lot of dignity, as depicted byJenkins, Popova& Sheldon (2018). It is recommended that the accounts remain explicitly professional with their clients and follow their code of conduct; hence, being their duty always to act ethically. The principle of integrity requires accountants to remain honest and candid within the constraints of client confidentiality. It is an order that the public trust should never be subordinated at the expense of personal advantage and gain. It is required that before performing any course of action, the client should ever consult with the relevant persons within the organization.

 

Being their duty always to act ethically.