Professional Knowledge and Abilities

Professional Knowledge and Abilities

When individuals need lawyers, doctors or even certified public accountants (CPA’s), they search for an individual they feel they can trust. They will want a person who can do a good job and have their best interest in mind. People will automatically assume that these professionals are qualified and competent. Professionals are distinguished from businesses and that’s why there is a need for ethical regulations. For accountants these ethical regulations are called, The Code of Professional Ethics.

The Code of Professional Ethics was developed by The American Institute of Certified Public Accountants (AICPA). Who is AICPA? The AICPA mission states

“The American Institute of Certified Public Accountants is the national, professional organization for all Certified Public Accountants. Its mission is to provide members with the resources, information, and leadership that enable them to provide valuable services in the highest professional manner to benefit the public as well as employers and clients.”

Utilizing some of the rules and guidelines that AICPA has can help individuals in the accounting field to be or continue to be successful.

The AICPA Code of Professional Ethics discusses many different areas in which an accountant can improve in their daily professional activities. The AICPA “promotes public awareness and confidence in the integrity, objectivity, competence and professionalism of CPAs and monitors the needs and views of CPAs” (AICPA Mission, 2009). AICPA also “establishes professional standards; assist members in continually improving their professional conduct, performance and expertise; and monitors such performance to enforce current standards and requirements.” (AICPA Mission, 2009). Recruiting and education is also an important aspect to AICPA because they “encourage highly qualified individuals to become CPAs and supports the development of outstanding academic programs.” (AICPA Mission, 2009) Taking...