Video: AICPA Code of Professional Conduct

In this lesson, Nick Palazzolo, CPA, delves into the AICPA Code of Professional Conduct, specifically focusing on the general standards rule. He emphasizes the importance of four general standards for CPAs: integrity, objectivity, professional competence, and due care. He highlights how CPAs should maintain their knowledge and skills, obtain necessary training or assistance when required, and adhere to continuing education requirements, like earning CPE credits after licensing. Nick also explains why ensuring due care in performing professional duties is essential.

"Examprep.ai helped me pass all 4 CPA exams on the first try. I highly recommend. I especially like the feedback and ratings the software provides so I know where to focus my time."

Daniel H., CPA

"I can't recommend ExamPrep.ai enough. Nick's lessons turned concepts I struggled with into strengths. I was able to pass FAR right before other exams expired!"

Andrew K, CPA

"I just want to say thank you for the great lesson videos. I couldn't stay awake through lectures of another course. After watching all your FAR lessons I was finally able to pass!"

Alyssa M., CPA Candidate

Video Transcript

Instructor: Nick Palazzolo

Nick Palazzolo is head instructor of ExamPrep.ai CPA Review. Nick's teaching style is engaging & upbeat, combining practical Big 4 tax & assurance expertise with years of 1-on-1 coaching. His lessons are concise and emphasize what you need to know to pass. Whether you're a recent grad or working full-time, we’re confident you can conquer your CPA exams with Nick’s review.

Cite this lesson

Link to this page

[[ citeExample ]]

Copy to clipboard

Copy URL to clipboard

Copy HTML to clipboard

You gotta stretch in, get some coffee, do what you gotta do. We're gonna power through, keep knocking out these lessons. Let's have a good time. Next up, we've got these general standards and this constitutes the general standards rule. The AICPA Code of Conduct is the ethical code of conduct for CPAs, as we discussed. This code has six sections. You don't really need to memorize this or know that, but just some background. You have the preamble, free word, the general standards, technical standards, confidentiality standards, independence standards, and then the professional conduct standards. Again, don't worry about that. Just giving some background to what it looks like. Now, we're going into the general standards, specifically the general standards as we see here. These are the foundation of the code and provide framework for the other standards. There are four general standards that you need to see and shocker, you know, we saw these before. Integrity, you must, as a CPA, be honest and have integrity. You're not gonna engage in any illegal or dishonest activities. You must be objective. You must not be influenced or biased. You have to be objective. You're not gonna allow your personal beliefs or interests to influence your professional judgment. I've met individuals who have audited different political organizations throughout the country, and guess what? You have to be independent there. You cannot have your personal beliefs impair your judgment for that organization. Professional competence, CPAs must maintain the knowledge and skills necessary to perform the job. Now, we'll see many times throughout the rest of the exam, if you don't have the knowledge and skills to perform the job, go get them, either through training or hiring someone with those skills, getting an outside consultant. You personally don't have to have

Unlock the full video transcript and subtitles support with a free account!

Get more from this lesson

Create an account 7-day free trial. No credit card required.

Ethics & Independence

Module: 3 Concepts, 42 Videos

AICPA Code of Professional Conduct Overview

1:04

AICPA Code of Professional Conduct Objectives

2:42

Introduction to AICPA Code of Professional Conduct

1:55

AICPA Requirements of Independent Auditors