In: Accounting
Topic: Evaluation of the AICPA Code of Professional Conduct Provisions
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:
1) Identify 1 of the 6 principles from the AICPA principles section of the Code of Professional Conduct Provisions.
2) Identify several rules from the rules section and show how they relate to the selected principle.
3) Evaluate the selected principle based on a deontological ethics perspective and a Christian worldview
1) Responsibilities:-
Responsibilities principle. In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities. As professionals, members perform an essential role in society. Consistent with that role, members of the American Institute of Certified Public Accountants have responsibilities to all those who use their professional services. Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. The collective efforts of all members are required to maintain and enhance the traditions of the profession.
2)
Integrity and Objectivity Rule
Independence Rule
General Standard Rule
Compliance with standard Rule
Accounting Principle Rule
The AICPA bylaws require that members adhere to the rules of the code. Compliance with the rules depends primarily on members’ understanding and voluntary actions; secondarily on reinforcement by peers and public opinion; and ultimately on disciplinary proceedings, when necessary, against members who fail to comply with the rules. Members must be prepared to justify departures from these rules.
3) Nowadays many authors believe that Virtue ethics is the best to explain the human conduct and can be related to economics. Virtue ethics combines an attainment for better results and an adherence to certain moral standards. In difference to teleological approach, it does not, however, solely focuses on the function of the welfare maximisation but considers also interpersonal relationship and the need to serve the society in good faith, next to emotions as an important part of the conduct, proven nowadays to be a powerful motive behind the human conduct. Moreover, in difference to deontological approach, Virtue ethics does not claim responsibility and established moral standards to be the key motives behind moral conduct; instead, it stresses contextual factors of conduct and reigning social values