When dealing with issues such as professional ethics, the stakescan be high. This is...

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Accounting

When dealing with issues such as professional ethics, the stakescan be high. This is why such care is taken to painstakinglyclarify terms such as integrity and independence in the AICPAProfessional Code of Conduct, as they could otherwise be open tointerpretation. In this week’s discussion, you will findillustrative examples of these key principles to share and discusswith your peers. First, review the terms and definitions identifiedin the “Principles of Professional Conduct” section of the preambleto the AICPA Professional Code of Conduct. Select one of theprinciples (e.g., responsibilities, public interest, integrity,objectivity and independence, due care, or scope and nature ofservices) and research a current event that demonstrates thatprinciple being threatened or otherwise not adhered to. (This doesnot need to be a case strictly about accounting—it could be anyrelevant business scenario. If you have trouble finding a currentevent, you can create a hypothetical scenario related to your finalproject business.)
I am choosing public interest

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Let us first in brief understand what are the Principles of Professional Conduct Any auditor or accountant while carrying on any professional services has to adhere to the principles of professional conduct He should look professional and be professional while carrying on any services His conduct should be such which does not bring disgust to the See Answer

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In: AccountingWhen dealing with issues such as professional ethics, the stakescan be high. This is why...When dealing with issues such as professional ethics, the stakescan be high. This is why such care is taken to painstakinglyclarify terms such as integrity and independence in the AICPAProfessional Code of Conduct, as they could otherwise be open tointerpretation. In this week’s discussion, you will findillustrative examples of these key principles to share and discusswith your peers. First, review the terms and definitions identifiedin the “Principles of Professional Conduct” section of the preambleto the AICPA Professional Code of Conduct. Select one of theprinciples (e.g., responsibilities, public interest, integrity,objectivity and independence, due care, or scope and nature ofservices) and research a current event that demonstrates thatprinciple being threatened or otherwise not adhered to. (This doesnot need to be a case strictly about accounting—it could be anyrelevant business scenario. If you have trouble finding a currentevent, you can create a hypothetical scenario related to your finalproject business.)I am choosing public interest