60.1K

Verified Solution

Link Copied!

Professional Practice

When discussing and evaluating professional ethics, it is essential to understand the purpose, terminology, and repercussions of professional misconduct. The American Instead of Certified Public Accountants (AICPA) Code of Professional Conduct is the gold standard for defining professional conduct in accounting: it is, therefore, important for business professionals to be familiar with. In this discussion, you will explore one principle in-depth and discuss it and others with your peers.

First, select one of the following principles of professional conduct to examine in the AICPA Code of Professional Conduct document:

Responsibilities

Public interest

Integrity

Objectivity and independence

Due care

Scope and nature of services

Then for your initial post, reflect on what the appropriate practice of your selected principle would look like in the field of retail, and also on some potential examples of violations of the principle. Use the following questions to help guide your reflections:

How would you define and describe your selected principle in your own words

What is an example of a difficult situation that a practitioner may face related to your selected principle, and what would an ethical response to the situation be? Why might a practitioner be tempted to, or accidentally, not take an ethical course of action.

Answer & Explanation Solved by verified expert

See Answer