Which statement best describes competence as defined in the aicpa code of professional conduct? a) infallible judgment that cannot subsequently be called into question. b) the application of skill and knowledge with reasonable care and diligence. c) possessing an advanced college degree in the relevant subject matter. d) rigid adherence to the professional standards of engagement performance.

b) The application of skill and knowledge with reasonable care and diligence

The professional code of ethics is defined as a general guideline that binds every member, and a pattern of action that applies to each member of his profession. The main reason for the need for a high level of professional action by each profession is the need for public confidence in the quality of services provided by the profession, regardless of each individual providing the service.

Ethics can be broadly defined as a set of principles or moral values. Every organization has a set of values like that, even though we pay attention or don't pay attention to it explicitly. The need for ethics in society is quite important, so many common ethical values are incorporated into the law.

The American Institute of Certified Public Accountants (AICPA) is the most influential public accounting firm in the world of auditing. Membership in the AICPA is limited to public accountants and currently has more than 330,000 members, but not all members practice as independent auditors. AICPA is a determinant of professional requirements for public accountants.

The AICPA's Code of Professional Conduct, revised and accepted by the 1988 membership session, consists of the following two sections:

Learn more

AICPA definition

The AICPA Code of Professional Conduct

The professional code of ethics definition

Details

Grade: High School

Subject: Social studies

keywords: AICPA, Code of Professional Conduct, The professional code of ethics