Revised AICPA Code of Professional Conduct

Analyzing the Ethical Responsibilities for Members in Public Practice and Members in Business

Steven M. Mintz, DBA

On June 1, 2014, the AICPA issued a codification of the principles, rules, interpretations, and rulings in the AICPA Code of Professional Conduct that specify which ethics provisions apply to members in public practice, members in business, and other members. A major improvement of the revised code is the creation of three sections for members in different areas of practice, to assist accounting professionals in each group to determine whether they are in violation of any of the rules of conduct. The revised code also provides clearer guidance on the application of the rules to fact situations because it incorporates the ethics rules, interpretations of the rules, and ethics rulings that pertain to specific areas of the code in one place rather than having to search out the relevant pronouncements throughout the code. The revised code is effective on December 15, 2014, except for the “Conceptual Framework for Members in Public Practice” and the “Conceptual Framework for Members in Business,” which become effective on December 15, 2015, with early adoption permitted.