Members should use the AICPA conceptual framework for independence to:

a) come to different conclusions than the interpretations of the code of professional conduct.

b) Evaluate independence matters not addressed in the code of professional conduct.

c) understand the rules on the confidential client information and acts discreditable to the profession.

d) more easily interpret conflicts of interest and subordination of judgement by a member.

Question

Eric Underwood

Business

24 November, 23:12

Members should use the AICPA conceptual framework for independence to:

a) come to different conclusions than the interpretations of the code of professional conduct.

b) Evaluate independence matters not addressed in the code of professional conduct.

c) understand the rules on the confidential client information and acts discreditable to the profession.

d) more easily interpret conflicts of interest and subordination of judgement by a member.

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Answers (1)

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Xavier Duffy · Answer 1

Members should use the AICPA conceptual framework for independence to understand the rules on the confidential client information and acts discreditable to the profession.

Option C

Explanation:

Two conceptual frameworks, one each for participants in public accounting and one for participants in the sector, represent a major change to substance in the updated AICPA Code.

In all of these two implementation frameworks, the conceptual framework strategy is one way in which warnings to fully comply with rules arising from a specific connection or circumstance which are not covered by the code can be identified, assessed and addressed.