The Most Significant Change in the Revised AICPA Code of Professional

question 42

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)Two conceptual frameworks: one for members in public practice and one for CPAs in business
• C)Eliminating Code coverage for members in business
• D)Clarifying that all CPAs must follow the Independence rule regardless of professional services

Discuss the importance of virtue and characteristics, such as trust and empathy, in ethical business conduct.

Recognize the role of justice types (procedural, interactional) in ethical considerations.

Examine the impact of moral philosophies on personal versus work-related decisions.

Clarify misconceptions associated with major economic and ethical theories.

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Definitions:

Laws Enacted

Legislation that has been officially approved and implemented by a governing body.

Moral Philosophy

The branch of philosophy concerned with principles of right and wrong behavior, as well as the goodness or badness of human character.

Written Form

Information or agreements expressed in textual format, often legally binding.

Corporate Culture

The shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature.