Question

Which of the following is not a principle of the AICPA Code of Professional Conduct?

A.Internal Controls
B. Integrity
C. Objectivity and Independence
D. Due Care

Answer 1

The principle that is not part of the AICPA Code of Professional Conduct is A. Internal Controls. This code focuses on personal and professional behavior principles such as Integrity, Objectivity and Independence, and Due Care, rather than company procedures like Internal Controls.

Step-by-step explanation:

The principle that is not a part of the AICPA Code of Professional Conduct is A. Internal Controls. The AICPA Code of Professional Conduct is a set of standards and principles that guide the ethical conduct of professional accountants. The key principles of this code include B. Integrity, which requires accountants to be honest and candid within the constraints of client confidentiality; C. Objectivity and Independence, which requires accountants to maintain an impartial attitude and to be free of conflicts of interest; and D. Due Care, which necessitates accountants to always provide competent and diligent professional services.

Internal controls, while important in accounting and auditing practices, are procedures or measures implemented by a company to assure the integrity of financial and accounting information, promote accountability, and prevent fraud. Internal controls are not one of the principles defined within the AICPA Code of Professional Conduct, which primarily focuses on the personal and professional behavior of accountants.

Answer 2

A. Internal Controls is not a principle of the AICPA Code of Professional Conduct; whereas integrity, objectivity and independence, and due care are the principles outlined in the code.

Step-by-step explanation:

The question relates to the AICPA Code of Professional Conduct, which outlines the ethical principles that CPAs (Certified Public Accountants) should follow. The principles include maintaining integrity, ensuring objectivity and independence, and exercising due care in their professional activities. The option that is not a principle of the AICPA Code of Professional Conduct is A. Internal Controls. While internal controls are important in accounting and auditing, they are not listed as an explicit principle in the AICPA Code of Professional Conduct itself.