Explain the importance of ethical conduct for the accounting profession.

PROFESSIONAL ETHICS

After studying this chapter, you should be able to

4-1 Distinguish ethical from unethical behavior in personal and professional contexts.

4-2 Resolve ethical dilemmas using an ethical framework.

4-3 Explain the importance of ethical conduct for the accounting profession.

4-4 Describe the purpose and content of the AICPA Code of Professional Conduct.

4-5 Apply the AICPA Code rules and interpretations on independence and explain their importance.

4-6 Understand the Sarbanes Oxley Act and other SEC and PCAOB independence requirements and additional factors that influence auditor independence.

4-7 Understand the requirements of other rules under the AICPA Code.

4-8 Describe the enforcement mechanisms for CPA conduct.