Auditing and Financial Management:
August 15, 2013, letter commenting on the AICPA Professional Ethics Executive Division's Document Entitled "Proposed Revised AICPA Code of Professional Conduct"
Published: Aug 15, 2013. Publicly Released: Aug 16, 2013.
This letter provides the U.S. Government Accountability Office's (GAO) comments on the American Institute of Certified Public Accountants (AICPA) Professional Ethics Executive Committee's (PEEC) Proposed Revised AICPA Code of Professional Conduct (the Code or draft Code). In GAO's view, the proposal's organization into separate parts for members in public practice and members in business separately represents a significant improvement in the Code's clarity. The proposed organization recognizes the Code's users' wide breadth of responsibilities and GAO expects that all users will find the new Code easier to implement at the individual and audit organization levels. GAO would like to call attention to a few areas where GAO believes the revised Code could go further in improving clarity, especially to the extent that the Code applies to accountants in government.