Reference no: EM133613612

Question

CPAs and the accounting profession adhere to what is known as the AICPA Code of Professional Conduct. In addition to other guidance for members and CPAs, the code consists of principles, rules of conduct, and interpretations. Which of the following statements is true regarding the AICPA Code of Professional Conduct? A CPA that departs from a rule of conduct and/or an interpretation must be prepared to justify such a departure. Code of professional conduct principles are generally considered to be more important than interpretations, and rules of conduct represent the only mandatory part of the code. The code of professional conduct is optional; however, CPAs are encouraged to adhere to this code by both the AICPA and State Boards of Accountancy. Code interpretations have helped to establish minimum standards, requiring a justification by an CPA that departs from these standards.