Which rule of professional conduct in the AICPA code does not apply both to internal and external accountants who are CPAs and members of the Institute?

A. IndependenceB. IntegrityC. ObjectivityD. Due care

A) Independence

Explanation:

The American Institute of Certified Public Accountants (AICPA) has strict rules regarding the professional conduct of its affiliates. External auditors should always be independent from the firm that they are auditing, while internal auditors work for the firm that they are auditing.

Independence

Explanation:

AICPA actually groups two rules together - Objectivity and Independence.

While it is very possible for both internal and external accountants to be Objective (impartiality and intellectually honest). Only an external accountant can be truly independent especially when providing auditing and other attestation services. These services are primarily performed to obtain an independent report or view of the financial state of an organisation.

Actually, it is clearly stated in the AICPA code of professional conduct that members or accountants not in public practice (internal accountants) cannot maintain an appearance of independence.

Every organisation's internal accountant is primarily responsible to the Board of Directors and Management of such an organisation.