Final answer:
The AICPA Code of Professional Conduct is divided into three parts: Principles, Rules, and Interpretations. The Principles provide general ethical guidelines, the Rules outline specific conduct for CPAs in public practice, and the Interpretations provide additional guidance for CPAs in business.
Step-by-step explanation:
The AICPA Code of Professional Conduct is a set of ethical guidelines for Certified Public Accountants (CPAs) in the United States. It is divided into three parts: Part 1 provides general principles, Part 2 provides rules for CPAs in public practice, and Part 3 provides rules for CPAs in business.
Part 1, the Principles, lays out the fundamental ethical principles that CPAs should adhere to. These principles include integrity, objectivity, professional competence, and due care. They serve as a foundation for the specific rules and interpretations in Parts 2 and 3.
Part 2, the Rules, contains specific rules that govern the professional conduct of CPAs in public practice. These rules cover areas such as independence, integrity and objectivity, confidentiality, professional competence, and advertising and solicitation.
Part 3, the Interpretations, provides additional guidance and explanations for the rules in Part 2. It helps CPAs in business understand and apply the rules to their specific roles and responsibilities within organizations.