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The American Institute Of Certified Public Company Accounting Oversight Board (AICPA)

709 Words3 Pages

Accounting professionals must abide by ethical standards that regulate what kind of business they conduct, who they serve and how they use their skills. Professional accounting and finance organizations are largely responsible for determining ethical standards. We will discuss some of the key organizations and ethical standards the accounting professional must comply with to uphold themselves as a reputable accountant. American Institute of Certified Public Accountants The American Institute of Certified Public Accountants (AICPA) plays a major role in the governing of the behavior of Certified Public Accountants (CPA). The AICPA is the largest professional organization for CPA’s in the United States. Its wide range of influence on CPA’s give it a vast amount of authority in guiding their performance and their commitment to ethics. The mission of the AICPA is “to provide members with the resources, information and leadership that enable them to provide valuable services in the highest professional manner to benefit the public, employers and clients” (1995). In addition to guidance in theories and standards, ethics is a crucial part of what’s necessary to properly serve the public. The AICPA requires adherence to a …show more content…

After a few major oversights in accounting, the government felt that the profession was no longer capable of handling this on its own and that newer actions were needed. The board is controlled by the SEC, and is responsible for the setting the standards and overseeing the auditors of public companies. Its other roles include enforcing the registration and inspections of public accounting firms, quality control, establishing independence standards and rules, as well as investigating and disciplining firms involved in questionable practices. With the passing of Sarbanes-Oxley in 2002, the PCAOB became the major public accounting governing

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The American Institute of Certified Public Accountants (AICPA) is known as a professional accounting organization who members are all certified public accounting (CPA). The task of the AICPA is ever changing to cover more in accounting. For example in the 1930s, the AICPA had set up a special committee to work with the New York Stock Exchange on matters that show common interest. Due to this special committee, in 1939, two standing committees, the Committee on Accounting Procedures and the Committee on Accounting Terminology was establish. These committees were active for 20 years and in that time issued 51 Accounting Research Bulletins (ARBs).

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510 Words | 3 Pages

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