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New Code of Professional Conduct Ethics Interpretations Issued

The American Institute of Certified Public Accountants’ Professional Ethics Executive Committee has published the following new interpretations of the Code of Professional Conduct: Hosting Services (ET sec. 1.295.143) under the Independence Rule (ET sec. 1.200.001). Effective September 1, 2018, this interpretation offers guidance in circumstances when a member providing non-attest services, and the member is the sole host of a financial or non-financial information system for an attest client, in charge of or protecting the client’s data or records or keeping electronic security or reserve services for an attest client’s data or records. Pressure to Breach the Rules (ET sec.. Read More.

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AICPA Committee Proposes Changes for Members in Business

The American Institute of CPAs’ (“AICPA”) Professional Ethics Executive Committee has proposed amendments to the interpretation of the “Knowing Misrepresentations in the Preparation of Financial Statements or Records” under the Code of Professional Conduct. Outlined in its exposure draft, Omnibus Proposal AICPA Professional Ethics Division: Proposed Revised and New Interpretations Applicable to Members in Business, the PEEC wants to expand the guidance under the “Integrity and Objectivity Rule” to include other responsibilities of a member in business when disclosing financial information or non-financial information and details not bound by reporting requirements. The PEEC proposes members responsible for financial information to. Read More.

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