Problem: What are the main objectives of the AICPA code of professional conduct and how does the code relate to protecting the public? Be specific.
A bookkeeper makes a significant posting error, which she later discovers and corrects. In fear of losing her job, she does not report the mistake to her supervisor. How should she have handled this situation and what should her supervisor do when the situation is disclosed?
The CFO for a corporation deliberately misstates expenses on the income statement purely out of a sense of loyalty to his CEO and the company. The CFO will receive no financial incentive for this misstatement. In fact, he risks losing his job by doing this. Is this an ethical violation for the CFO? Why or why not?
How does the AICPA Code of Professional Conduct relate to ethics? Provide examples to support your answer.