The accountants role in society requires trust and credibility. Accounting information is worthless if the accountant is not trustworthy. Similarly, tax and consulting advice is useless if it comes from an incompetent person. The high ethical standards required by the profession state a certified public accountant assumes an obligation of self-discipline above and beyond requirements of laws and regulations. The American Institute of Certified Public Accountants (AICPA) requires its members to comply with the Code of Professional Conduct. Credible financial reporting relies on a system of checks and balances. Corporate management is responsible for preparing financial reports while outside independent accountants (CPAs) audit the reports. The massive surprise bankruptcies of Enron in late 2001 and WorldCom several months later suggested major audit failures on the part of the independent auditors. An audit failure means a companys auditor does not detect, or fails to report, that the companys financial reports are not in compliance with GAAP. The audit failures at Enron, WorldCom, and others prompted Congress to pass the Sarbanes-Oxley Act (SOX). Assignment: 1.Summarize the six articles that are included in Section I of the AICPA Code of Professional Conduct. Discuss the provisions that are included in SOX to strengthen the audit function