Question

The introductory section of the AICPA Code of Professional Conduct concludes with a methodology to resolve ethical conflicts. That methodology has how many steps?

1) Three
2) Five
3) Seven
4) Ten

Answer 1

The methodology to resolve ethical conflicts in the AICPA Code of Professional Conduct consists of seven steps.

Step-by-step explanation:

The introductory section of the AICPA Code of Professional Conduct concludes with a methodology to resolve ethical conflicts. This methodology consists of seven steps.

1. Identify the ethical issue: Determine the ethical problem or conflict that needs to be resolved.
2. Gather all the relevant facts: Collect all the necessary information and data related to the ethical issue.
3. Identify the affected parties: Determine all the individuals or groups who may be impacted by the ethical issue.
4. Consider the available alternatives: Explore different courses of action that can be taken to address the ethical issue.
5. Weigh the consequences: Evaluate the potential outcomes and effects of each alternative.
6. Make a decision: Choose the best course of action based on the analysis of the consequences.
7. Monitor and reflect on the decision: Continuously review and assess the ethical decision in light of any new information or changes in circumstances.