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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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