Multistate – AICPA Code of Professional Conduct Revised (January 28, 2014)

SALT Report 3231–Journal of Accountancy article written by Ellen Goria, CPA, CGMA:  The American Institute of Certified Public Accountants (aicpa.org) has revised the Code of Professional Conduct.  On January 28, 2014 the Professional Executive Ethics Committee (PEEC) adopted the changes to be effective December 15, 2014.  According to the article, “The most significant change is the incorporation of two broad conceptual frameworks, one for members in business and another for members in public practice.”

The article goes on: “Under the conceptual framework approach, users:

  1. Identify threats to compliance with the rules;
  2. Evaluate the significance of those threats to determine whether the threat is at an acceptable level; and
  3. In cases where users conclude that threats are not at an acceptable level, apply safeguards to eliminate the threats or reduce them to an acceptable level.”

For Further Information:

Journal of Accountancy article written by Ellen Goria, CPA, CGMA

Exposure draft of revised AICPA Code of Professional Conduct

aicpa.org