Professional Conduct Effective December 15, 2014 (early .

AICPA Code ofProfessional ConductEffective December 15, 2014 (early implementation permitted).Copyright 2014, American Institute of Certified Public Accountants, Inc. All Rights Reserved.This PDF created using content in the online system as of 5/15/2014

Table of ContentsPreface: Applicable to All Members . 10.100 Overview of the Code of Professional Conduct . 1.01 . 1.02 . 1.03 . 10.100.010 Principles and Rules of Conduct . 10.100.020 Interpretations and Other Guidance . 10.200 Structure and Application of the AICPA Code . 20.200.010 Structure of the AICPA Code . 20.200.020 Application of the AICPA Code . 20.200.030 Citations . 30.200.040 Transition Provisions . 40.200.050 Drafting Conventions . 40.300 Principles of Professional Conduct . 40.300.010 Preamble . 40.300.020 Responsibilities . 40.300.030 The Public Interest . 50.300.040 Integrity . 50.300.050 Objectivity and Independence . 50.300.060 Due Care . 60.300.070 Scope and Nature of Services . 70.400 Definitions . 7.01 . 7.02 . 7.03 . 8.04 . 8.05 . 8.06 . 8.07 . 8.08 . 9.09 . 9.10 . 9.11 . 9.12 . 9.13 . 10.14 . 10.15 . 10.16 . 10.17 . 10.18 . 11.19 . 11.20 . 11.21 . 11.22 . 11.23 . 11.24 . 12.25 . 12.26 . 12.27 . 12.28 . 12.29 . 12ii

AICPA Code of Professional Conduct.30 . 12.31 . 13.32 . 13.33 . 13.34 . 13.35 . 13.36 . 14.37 . 14.38 . 14.39 . 14.40 . 14.41 . 14.42 . 15.43 . 15.44 . 15.45 . 15.46 . 15.47 . 15.48 . 15.49 . 160.500 Nonauthoritative Guidance . 16.01 . 16.02 . 16.03 . 160.600 New, Revised, and Pending Interpretations and Other Guidance . 160.600.010 New and Revised Interpretations and Other Guidance . 160.600.020 Pending Interpretations and Other Guidance . 200.700 Deleted Interpretations and Other Guidance . 21.01 . 21Part 1 . 251.000 Introduction . 25.01 . 25.02 . 25.03 . 251.000.010 Conceptual Framework for Members in Public Practice . 251.000.020 Ethical Conflicts . 311.100 Integrity and Objectivity . 311.100.001 Integrity and Objectivity Rule . 32Interpretations Under the Integrity and Objectivity Rule . 321.200 Independence . 381.200.001 Independence Rule . 38Interpretations Under the Independence Rule . 381.300 General Standards . 981.300.001 General Standards Rule . 98Interpretations Under the General Standards Rule . 981.310 Compliance With Standards . 1001.310.001 Compliance With Standards Rule . 100Interpretations Under the Compliance with Standards Rule . 1001.310.005 Application of the Conceptual Framework for Members in Public Practiceand Ethical Conflicts . 1001.320 Accounting Principles . 1001.320.001 Accounting Principles Rule . 100Interpretations Under the Accounting Standards Rule . 1011.400 Acts Discreditable . 103iii

AICPA Code of Professional Conduct1.400.001 Acts Discreditable Rule .Interpretations Under the Acts Discreditable Rule .1.500 Fees and Other Types of Remuneration .1.500.008 Unpaid Fees .1.510 Contingent Fees .1.520 Commissions and Referral Fees .1.600 Advertising and Other Forms of Solicitation .1.600.001 Advertising and Other Forms of Solicitation Rule .Interpretations Under the Advertising and Other Forms of Solicitation Rule .1.700 Confidential Information .1.700.001 Confidential Client Information Rule .Interpretations Under the Confidential Client Information Rule .1.800 Form of Organization and Name .1.800.001 Form of Organization and Name Rule .Interpretations Under the Form of Organization and Name Rule .Part 2 .2.000 Introduction .01 .02 .2.000.010 Conceptual Framework for Members in Business .2.000.020 Ethical Conflicts .2.100 Integrity and Objectivity .2.100.001 Integrity and Objectivity Rule .Interpretations Under the Integrity and Objectivity Rule .2.300 General Standards .2.300.001 General Standards Rule .Interpretations Under the General Standards Rule .2.310 Compliance With Standards .2.310.001 Compliance With Standards Rule .Interpretations Under the Compliance with Standards Rule .2.320 Accounting Principles .2.320.001 Accounting Principles Rule .Interpretations Under the Accounting Principles Rule .2.400 Acts Discreditable .2.400.001 Acts Discreditable Rule .Interpretations Under the Acts Discreditable Rule .Part 3 .3.000 Introduction .01 .02 .3.000.030 Applicability .3.400 Acts Discreditable .3.400.001 Acts Discreditable Rule .Interpretations Under the Acts Discreditable Rule .Appendix A .Appendix B .Appendix C .Appendix D 152153153

Preface: Applicable to All Members0.100 Overview of the Code of Professional Conduct.01The AICPA Code of Professional Conduct (the code) begins with this preface, which applies to all membersThe term member, when used in part 1 of the code, applies to and means a member in public practice;when used in part 2 of the code, applies to and means a member in business; and when used in part 3 ofthe code, applies to and means all other members, such as those members who are retired or unemployed.02A member may have multiple roles, such as a member in business and a member in public practice. In suchcircumstances, the member should consult all applicable parts of the code and apply the most restrictiveprovisions. [No prior reference: new content]Effective Date.03Effective December 15, 2014.0.100.010 Principles and Rules of Conduct.01The AICPA membership adopted the Code of Professional Conduct (the code) to provide guidanceand rules to all members in the performance of their professional responsibilities. The code consists ofprinciples and rules as well as interpretations and other guidance which are discussed in 0.100.020.The principles provide the framework for the rules that govern the performance of their professionalresponsibilities.02The AICPA bylaws require that members adhere to the rules of the code. Compliance with the rulesdepends primarily on members’ understanding and voluntary actions; secondarily on reinforcement bypeers and public opinion; and ultimately on disciplinary proceedings, when necessary, against memberswho fail to comply with the rules. Members must be prepared to just

comply with the “Compliance With Standards Rule” [ 1.310.001 for members in public practice and 2.310.001 for members in business] and the “Accounting Principles Rule” [ 1.320.001 for members in public practice and 2.320.001 for members in business].