AICPA

AICPA stands for the American Institute of Certified Public Accountants. It is founded in 1887. AICPA is set up in the United States and it is the national professional organization of Certified Public Accountant.

Role of AICPA

1. It set a standard of ethics for the best practice for accounting.

2. Create guidelines with the new legislation.

3. In relation to accepted accounting practice (CPA) its monitors service quality.

AICPA is designed to resolve the issue related to the audit and preparation of an audit report by the CPA. The AICPA’s provide a higher professional manner benefits to the public, employers, and clients through the resources, information, and leadership that enable them to provide valuable service.

There are more than 40,000 members in 128 countries in AICPA including government, industries, and international associates.

Ethics:

Ethics in the accounting profession is defined as guidelines and principles. It includes laws and standards of behavior.

Stakeholder:

A stakeholder is a customer, supplies, employee, creditor, etc, who has an interest in an organization and affected by a corporation.