Final answer:
The AICPA Code of Professional Conduct does not prohibit advertising by a member in public practice, but there are restrictions and guidelines to ensure advertising is truthful and not misleading.
Step-by-step explanation:
The statement in the question is false. The AICPA Code of Professional Conduct does not prohibit advertising by a member in public practice. However, there are certain restrictions and guidelines in place to ensure that the advertising is truthful, not misleading, and does not bring discredit to the profession.
While the AICPA Code does not prohibit advertising, it does require that advertising be in compliance with relevant laws and regulations. For example, false or misleading statements made in connection with a commercial transaction can be illegal and constitute fraud.
Many states also have regulations in place for advertising by professionals such as lawyers, as mentioned in the provided information. These regulations help maintain the integrity of the advertising and protect consumers from false or misleading information.