Code of professional ethics by american institute of certified public accountants

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People assume that the hired professional is qualified since they cannot appraise himThey must take it on faith that he is competentThat is why professionals are distinguished from businesses and why there is a need for ethical regulations. The Code of Professional Ethics The Code of Professional Ethics for public accountants was developed by the American Institute of Public Accountant and includes four different categories. The first, Concepts of Professional Ethics, establishes major requirements for CPAs in different areas of their day-to-day professional activities The main parts of the Code are: Independence, Integrity and Objectivity in the practice of public accounting, Competence and technical standards, Responsibilities to clients, Responsibilities to colleagues and Other responsibilities and PracticesIndependence has always been the fundamental concept to the accounting professionIn fact it is the most essential to the practice of all professions