The Rules of AICPA Code of Professional Conduct Are Applicable

question 134

True/False

The rules of AICPA Code of Professional Conduct are applicable to members in public practice only.

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Definitions:

Legal Responsibility

The obligation to act according to the law as defined by a governing body, encompassing duties and liabilities.

Ethical Responsibility

Refers to the obligation to act in a manner that is fair, honest, and beneficial to both the society and the business.

Stakeholder Responsibility

The obligation to consider and address the interests and well-being of all parties affected by an organization's actions and decisions.

Formal Code Of Ethics

A written document that outlines an organization's values, principles, and standards for professional conduct.