Question

The AICPA Code of Professional Conduct contains both general ethical principles that are aspirational in character and a

A. List of violations that would cause the automatic suspension of a CPA's license.
B. Set of specific, mandatory rules describing minimum levels of conduct a CPA must maintain.
C. Description of a CPA's procedures for responding to an inquiry from a trial board.
D. List of specific crimes that would be considered as acts discreditable to the profession.

Answer 1

The AICPA Code of Professional Conduct includes specific, mandatory rules that describe the minimum conduct standards for CPAs, with the correct answer being 'B. Set of specific, mandatory rules describing minimum levels of conduct a CPA must maintain.'

Step-by-step explanation:

The AICPA Code of Professional Conduct includes specific, mandatory rules that describe the minimum conduct standards for CPAs, with the correct answer being 'B. Set of specific, mandatory rules describing minimum levels of conduct a CPA must maintain.'The question refers to the AICPA Code of Professional Conduct, which guides Certified Public Accountants (CPAs) in their professional activities.

This code consists of principles and also contains mandatory rules that dictate the minimum level of conduct required of CPAs. Specifically, the correct answer to the student’s query is B. Set of specific, mandatory rules describing minimum levels of conduct a CPA must maintain. These are actionable standards that CPAs must follow to remain in good standing within the profession. This code aims to ensure that CPAs conduct themselves in a manner that reflects credit on the profession and maintain the public trust.