Professional Ethics division issues exposure draft.The AICPA AICPA See American Institute of Certified Public Accountants (AICPA). 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 has issued an exposure draft containing five proposals for review and comment. The proposals include revisions to the following independence standards: Interpretation 101-1--Interpretation of Rule 101 (trustee or executor executor n. the person appointed to administer the estate of a person who has died leaving a will which nominates that person. Unless there is a valid objection, the judge will appoint the person named in the will to be executor. relationships with a client), Interpretation 101-2--Former Practitioners and Firm Independence, Interpretation 101-10--The effect on independence of relationships with entities included in the governmental financial statements, ethics ruling no. 41, Member as Auditor of Insurance Company, and ethics ruling no. 70, Member's Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. Relationship With Client Financial Institution. Members and other interested parties are encouraged to comment on this proposal. Comments on this exposure draft will be accepted through Aug. 17. For a copy, visit: [computer] www.aicpa.org/members/div/ ethics/ed020617.htm |
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