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 VIDEO

How KPMG is innovating the audit

KPMG's global audit team is using cognitive technology and alliances with tech and university partners to drive audit innovation. See how.

SPONSORED REPORT

States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.