Ethics More Than Rules Compliance

BY ARTHUR SIEGEL

The quiz, Test Your Knowledge of Professional Ethics ( JofA, Oct.02, page 110), gave the technically correct answer to question no. 4: Is the engagement partner independent if his mother-in-law is the controller of the client? But it would have been better if the answer reminded readers that professional ethics call for more than compliance with the rulesthey also require objectivity. See Rule 102, Integrity and Objectivity of the AICPA Code of Professional Conduct.

If practitioners asked themselves the question, many would conclude that, in these circumstances, they could not be objective.

Arthur Siegel, CPA
New York City

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.