The AICPA Code of Professional Conduct is a cornerstone for Certified Public Accountants (CPAs). It establishes ethical principles and rules that govern the behavior of AICPA members, ensuring public trust and the integrity of the accounting profession. Understanding this code is crucial for passing the CPA exam and for practicing accounting ethically.

The Code is built upon six core principles, which serve as aspirational goals for CPAs. These principles guide CPAs in their professional and personal lives.

CPAs should exercise professional and moral judgments in all their activities. This means taking ownership of their actions and decisions.

Members should act in a way that will serve the public interest, honor public trust, and demonstrate commitment to professionalism. This principle emphasizes the CPA's role as a steward of public confidence.

To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity. This means being honest and straightforward.

A member should maintain objectivity and be free of conflicts of interest, which would impair objectivity in rendering professional services. Independence requires that a member be independent in fact and appearance when providing auditing and other attest services.

A member should observe the profession's technical and ethical standards, strive to continually improve the quality of professional services, and encourage others within their firm to do the same. This involves competence and diligence.

A member who provides auditing, tax, management consulting, or other professional services should conform to the profession's standards, procedures, and techniques. This principle also addresses the importance of maintaining professional competence and exercising due professional care.

While the principles are aspirational, the Rules of Conduct are mandatory. They provide specific, enforceable standards that CPAs must adhere to. These rules are organized into several categories.

These rules are critical for attest engagements. They prohibit acts discreditable to the profession, require independence in fact and appearance, and mandate objectivity and freedom from conflicts of interest.

CPAs must possess the necessary competence to perform professional services. They must also adhere to generally accepted accounting principles (GAAP) and other technical standards.

This section covers confidentiality of client information, prohibiting the disclosure of confidential client data unless legally required or with client consent. It also addresses acts discreditable to the profession and conflicts of interest with clients or employers.

This includes rules on advertising and solicitation, commissions and referral fees, and acts discreditable to the profession. CPAs must ensure their marketing is not false or misleading and that they maintain professional conduct in all dealings.

When preparing for the CPA exam, focus on understanding the practical application of these principles and rules. Pay close attention to scenarios involving independence, conflicts of interest, and acts discreditable to the profession, as these are frequently tested.

Ethical dilemmas are common in accounting practice. The Code provides a framework for CPAs to analyze these situations, weigh competing interests, and make decisions that align with professional ethics. This often involves consulting with supervisors, peers, or the AICPA ethics hotline.