The Most Significant Change in the Revised AICPA Code of Professional

question 95

Multiple Choice

The most significant change in the Revised AICPA Code of Professional Conduct is:

• A) A conceptual framework approach for evaluating ethics violations
• B) The creation of three sections: one for members in public practice, members in business, and one for other members
• C) Eliminating Code coverage for members in business
• D) Clarifying that all CPAs must follow the Independence rule regardless of professional services

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Definitions:

Executive Summary

A brief section at the beginning of a document, report, business plan, or presentation that summarizes the main points.

Synopsis

A brief summary or overview of the content of a document, presentation, film, or work, highlighting its main points and themes.

Strategic Planning

The process of defining a company’s direction and making decisions on allocating its resources to pursue this strategy.

Objectives

Specific, measurable goals set by an individual or organization that aim to achieve a desired outcome or performance level.