Summarize the five fundamental principles of ethics as articulated by the International Ethics Standards Board for Accountants (IESBA).
Describe the AICPA's six principles of professional conduct.
Which describes the AICPA's rules of conduct. Read Rule 101 and answer the following questions.
a. Are auditors of publicly traded clients required to be independent?
b. Are auditors of privately held clients required to be independent?
c. Rule 101 applies only to covered members. What does it mean to be a covered member?
d. What is the difference between a direct financial interest and an indirect financial interest?
e. What services does the Sarbanes-Oxley Act of 2002 prohibit auditors from performing for their publicly traded clients?