Wednesday, March 11, 2009

Aicpa code of professional conduct and reserved section 400

Last night an accounting professor forwarded a question from a student who was trying to access the AICPA code of professional conduct and Section 400 relating to responsibilities to colleagues.

The student thought that "reserved" meant that there was a charge to access the information. Not in this case.."reserved" means "something saved for future use." Currently, there is no material in Section 400.

She was asking about Section 400 in relation to an audit failure case of 20 some years ago. The online code is only the current version of the code. There may have been a section 400 at one time, or the responsibilities to colleagues might be covered elsewhere. Searching CUNY+ for prior editions of the code, or journal articles in publications such as the Journal of Accountancy, the official journal of the AICPA, and the CPA Journal, the New York chapter's publication, might provide information on responsibilities to colleagues.

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