Problem

The Code of Professional Conduct is very important for the auditing profession. The AICPA,...

The Code of Professional Conduct is very important for the auditing profession. The AICPA, state CPA boards, and other professional organizations spend a great deal of time and effort implementing and reinforcing the ethical standards as well as penalizing those who violate the ethical standards.

Required:

A. Why is the Code of Professional Conduct important to the profession?

B. Many professionals believe that in today’s business environment it is more difficult to adhere to the Code of Professional Conduct than ever before. Why might this be true?

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