Chapter 4 - Professional Ethics Flashcards Preview

ACTG 4510 > Chapter 4 - Professional Ethics > Flashcards

Flashcards in Chapter 4 - Professional Ethics Deck (15):
1

Rule 101

Independence

2

Rule 102

Integrity and Objectivity

3

Rule 201

General Standards (GAAS or PCAOB)

4

Rule 202

Compliance with Standards

5

Rule 203

Accounting Principles (GAP)

6

Rule 301

Confidential Client Information

7

Rule 302

Contingent Fees

8

Rule 501

Acts Discreditable

9

Rule 502

Advertising and other forms of solicitation

10

Rule 503

Commissions and referral fees

11

Rule 505

Form of Organization and Name

12

Principles

Ideal standards of ethical conduct in philosophical terms. Not enforceable
1. Responsibilities
2. The public interest
3. Integrity
4. Objectivity and independence
5. Due care
6. Scope and Nature of Services

13

Rules of Conduct

Minim standards of ethical conduct stated as specific rules. Enforceable (Rule 101, 102, 201,etc)

14

Interpretations of the rules of conduct

Interpretations of the rules of conduct by the AICPA division of professional ethics. Not enforceable but practitioner must justify departure

15

Ethical rulings

Published explanations and answers to questions about the rules of conduct. Not enforceable but practitioner must justify departure