Virtually every profession has a code of ethics. This includes other organizations within the “accounting” umbrella, as well as organizations in other business-related careers. This week we will compare and contrast the six principles from AICPA Code of Professional Conduct (from chapter 2) with other professional codes not covered in chapter 5.
By Wednesday, find the ethical code for one of the many the accounting or financial professional organizations. Look for their core values or principles and compare those to the six principles in the AICPA Code of Professional Conduct. In your post:
provide a link to the professional code you compared, and
list at least two similarities of that code to the AICPA’s six principles.
By Sunday, reply to a classmate’s post. Cite the classmate’s name in the reply. Compare the six principles in the AICPA Code to the principles or values of the other code. In your post, identify at least two differences between the two codes.
For my organization I chose Institute of Management Accountants IMA to compare their code of ethics to the AICPA principles.
org/career-resources/ethics-center?ssopc=1″ title=’https://www.imanet.org/career-<em class=”Highlight” match=”resources” loopnumber=”972168890″ style=”box-sizing: border-box; padding: 1px; box-shadow: rgb(229, 229, 229) 1px 1px; border-radius: 3px; -webkit-print-color-adjust: exact; background-color: rgb(255, 0, 0); color: rgb(255, 255, 255); font-style: inherit;”>resources</em>/ethics-center?ssopc=1<span class=”screenreader-only” style=”box-sizing: border-box;”><span> </span>(Links to an external site.)</span>’>https://www.imanet.org/career-resources/ethics-center?ssopc=1 (Links to an external site.)
The IMA has two main points in their Code of Ethics and Professional Practice which are Principles and Standards. Principles is very similar to Objectivity and Independence in which they are to maintain and honest, fair, objective attitude and conduct, and encourage others around them to do the same.
The second similarity is under their Standards of competence which is similar to Due Care, where a member must always be up to date with any new regulations and changes that affect their business and to continue to educate themselves in order to provide the best service to their client.
The United States Government Accountability Office (GAO) Code of Ethics.
https://www.gao.gov/products/gao-21-368g (Links to an external site.)
I am comparing the AICPA Code of Conduct and the GAO Code of Ethics. The GAO provides Code of Ethics for auditors who perform audits in federal, state, and local government programs. The GAO Code are consisted of five ethical principles; public interest, integrity, objectivity, proper use of government information, resources, and positions, and professional behavior. Both the GAO and AICPA Codes indicate public interest, integrity and objectivity. Auditors should serve the public’s best interest, perform professional responsibilities with integrity, and be free from conflicts of interest to increase credibility of their professional judgement.
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