AICPA Code of Professional Conduct

In your response to at least two peers, discuss actions and consequences that should be taken in response to a violation of their selected principle. Use the following questions to help guide your responses:

• What actions or strategies could you or others take to remediate the ethical issues?
• What are some repercussions of not abiding by your peer's selected principle from a legal, business, or general professional perspective?

The two posts I have selected-

Post 1-

I have chosen integrity. Integrity is the practice to be honest, to have strong moral principles. and uprightness. When your trustworthy and incorruptible one is incapable of false trust, and responsibility. The value of integrity for practitioners it helps build strong professional reputation which could lead to advancements and satisfaction. The integrity of a business can have a great reputation which attracts loyal customers and a dedicated staff. Also having integrity in a business can help reduce legal issues or anything that could disrupt a companies reputation. The integrity for clients is clients that trust a company will continue to do business with that company or companies. With trust and honestly a company or companies will thrive because of the loyalty from old and new clients.

In a difficult situation a practitioner my have face could be a client may tell them something but to keep it confidential because

Post 2-

Integrity in the context of professional conduct refers to the quality of being honest and having strong moral principles. It entails maintaining high ethical standards, being truthful in all professional dealings, and adhering to one's commitments and responsibilities. A practitioner with integrity acts in a manner that is consistent with their values and ethical standards, even when faced with challenging situations.

Integrity is fundamental to building trust and credibility in the accounting profession. Practitioners who demonstrate integrity earn the confidence of their clients, employers, and the public. It fosters a positive reputation for both the individual practitioner and the accounting profession as a whole. Additionally, integrity contributes to the reliability of financial information, which is crucial for decision-making by businesses and stakeholders.

Examples of Violations:

Providing false or misleading information in financial statements to conceal financial problems or inflate the company's performance.

Failing to disclose personal or financial interests that could influence professional judgment, leading to biased recommendations or decisions.

Disclosing confidential client information without proper authorization violates the trust placed in the practitioner.

Receiving payments or favors in exchange for preferential treatment or overlooking discrepancies in financial records.

A practitioner might encounter a situation where a client asks them to manipulate financial data to minimize tax liabilities or to misrepresent financial performance to secure financing. In such a scenario, the ethical response would involve refusing to engage in any deceptive practices and upholding the integrity of financial reporting standards. The practitioner should communicate the importance of compliance with laws and regulations to the client and provide alternative, ethical solutions to achieve their objectives. Despite potential pressure from the client to comply with their demands, the practitioner must prioritize honesty and integrity to maintain professional ethics and uphold public trust.Practitioners might be tempted to compromise their integrity due to various factors such as financial incentives, fear of losing clients or job security, or pressure from superiors. Additionally, the complexity of certain situations and the absence of immediate consequences might lead individuals to rationalize unethical behavior. However, adhering to ethical standards is crucial for sustaining long-term success and maintaining the integrity of the profession.