AICPA considers additional outsourcing guidance.The AICPA's Professional Ethics professional ethics, n the rules governing the conduct, transactions, and relationships within a profession and among its publics. professional ethics liability, n 1. Executive Committee is considering issuing additional guidance in the Code of Professional Conduct regarding the responsibilities of its members who use third-party service providers in client engagements, also known as outsourcing. The AICPA's guidance cites Ethics Ruling No. 1, under the Code of Professional Conduct, Rule 301, Computer Processing of Client Returns, which states that members must take "all necessary precautions precautions Infectious disease The constellation of activities intended to minimize exposure to an infectious agent; precautions imply that the isolation of an infected Pt is optional, but not mandatory. " to ensure that the use of a third party does not result in the release of confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead . A confidentiality breach by an outsourcer is still the CPA's responsibility. To read the current AICPA AICPA See American Institute of Certified Public Accountants (AICPA). code of conduct, visit www.aicpa.org/about/code/index.htm. [ILLUSTRATION OMITTED] |
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