Question

You’re struggling in your new accounting practice to tap into a potential client base. You have tried traditional advertising and marketing tools to no avail. Your friend tells you to use social media as a tool to reach potential customers. You’re not sure about it. Your concern is one of ethics. The last thing you want to do is violate the ethical standards of the accounting profession. Identify the ethical issues that should be of concern to you in deciding whether and how to use social media for advertising and solicitation of new clients.

Answer 1

A professional accountant should adher the following ethical issues while considering the social media platform for advertising:

1. Professional Rules of Responsibility apply

Rules on AICPA advertising apply to social media profiles and postings that you use for business purposes and that concern the availability for professional employment. But what does “business purpose” mean? What does “the availability for professional employment” mean? Put your Accountant hats aside and stop trying to find loopholes. Assume that all of your social media channels, besides your personal Facebook page, is used for business purposes. Best practice is to avoid mentioning anything about your firm or line of work on your personal Facebook page.

2) You are responsible for everything that is posted on your profile or social media

You are responsible for everything that you or someone directed by you (ie: an agent) posts on your social media channels. You are also charged with monitoring your social media channels. If someone posts something misleading or false, you are required to take it down and if you can’t you must ask the person in charge to take it down. Alternatively, you can also make a corrective statement. On LinkedIn, people are able to endorse you and write reviews about you. On Facebook, people are able to write reviews about you. Make sure you are monitoring all of these for any false or misleading statements.

3) Don’t hold yourself out as a specialist when you are not

In your LinkedIn profile, avoid using the words expert or specialist unless you are certified by your jurisdiction(s) as such. To be on the safe side, stick to listing the number of years you have practiced and recent cases (those that are public) you have worked on.

4) Don’t release any confidential information regarding your clients

Some accountants have gotten in trouble for releasing privileged information on the internet. Do not do this unless the client consents. And even then, do so very judiciously. In one instance, an CPA was suspended for using confidential client information when rebuffing some allegations written on Yelp.

5) Make sure you put the word ‘advertising’ somewhere in your posts or profiles

For example, you can use the following disclaimer on your Twitter and Facebook pages

6) Make clear what jurisdictions(s) you are licensed to practice

Because social media and the internet see no geographic boundaries, you should clearly state what state(s) or jurisdictions(s) you are licensed to practice in all of your social media profiles.