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AICPA Ethics Codification Project

AICPA Ethics Codification Project. As of January 24, 2014. Ethics Codification Objective. Create user friendly, intuitively arranged Code Revise without making significant changes to existing requirements and restrictions Clarity through better drafting conventions

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AICPA Ethics Codification Project

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  1. AICPAEthics Codification Project As of January 24, 2014

  2. Ethics Codification Objective • Create user friendly, intuitively arranged Code • Revise without making significant changes to existing requirements and restrictions • Clarity through better drafting conventions • Substantive changes will follow due process • Incorporate conceptual framework approach • Incorporate threats and safeguards • Conceptual framework only applies when no guidance in Code exists • Cannot be used to override existing requirements

  3. Ethics Codification Objective cont. • Incorporate references to division’s nonauthoritative guidance • Physically different – Separate parts • Part 1: Members in public practice • Part 2: Members in business • Part 3: All Other Members • On-line Codification with enhanced functionality • Project Page on aicpa.org. Contains information such as: • Mapping Documents • Informational Video and articles • Project Timeline • Drafting Guidelines www.aicpa.org/InterestAreas/ProfessionalEthics/Community/Pages/aicpa-ethics-codification-project.aspx

  4. Questions Slide 4

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