The Code of Professional Conduct is established by the membership of the AICPA, and the Interpretations of the Rules of Conduct are prepared by the
A) Financial Accounting Standards Board.
B) Securities and Exchange Commission.
C) CPA licensing agencies within each state.
D) Professional Ethics Executive Committee of the AICPA.

Question

Quizplus · Accepted Answer

The Code of Professional Conduct is established by the AICPA membership while the Interpretations of the Rules of Conduct are prepared by the Professional Ethics Executive Committee of the AICPA. Therefore, choice D is the correct answer. The Financial Accounting Standards Board is responsible for developing generally accepted accounting principles (GAAP), the Securities and Exchange Commission oversees financial reporting for public companies, and the CPA licensing agencies within each state regulate the certification and licensure of CPAs.

The Code of Professional Conduct Is Established by the Membership