AICPA principles are set professional code of ethics that must be observed or practised by all certified public accountants while performing their roles. The AICPA key Codes of Conduct depends on six principles which include; responsibility principle, the integrity principle, the public interest principle, Objectivity and Independence principle, Due care principle and scope and nature principle ( Ningrum & Wedari, 2017) Accounting principles were developed by American Institutes of Certified Public Accountants principles to help in proper recording all accounting information. These principles are necessary because they in giving guidance to accountants on how to observe all profession guidelines while performing their roles. In this discussion, the law of objectivity and independence will be addressed.
Objectivity and Independence
According to this principle, a member of an accounting professional body or accountant should maintain objectivity and free from conflict of interest when performing professional roles or responsibilities. Also, the guidelines of this principle direct that an accounting professional should be independent and avoid a place that can influence professions decisions. The principle of independence governs the accountants’ ability to perform their responsibilities with honesty and objectivity to achieve efficiency ( Ningrum & Wedari, 2017) . Even though the principle of independence is subjective, it helps in promoting confidentiality when handling accounting statements. Furthermore, the principle of independent requires accountants to be entirely away from conflict of interest both in action and mental conditions. In doing so, accountants, we can perform the roles more professionally. Similarly, this increases the credibility of any accounting services offered to a client. Therefore, all accounting professionals need to critically observe all guidelines regarding independence objectivity while performing their roles.
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The principle of objectivity also states that accountants and other accounting professionals should maintain consistency while performing their roles to give an accurate report of a client.
Rules of AICPA Principles
AICPA rules are set guidelines that should be followed by accountants while performing their roles to ensure that they perform their functions diligently to achieve professional competence. The following are some common rule with regards to accounting principle:
A member of any accounting professional body should practice high of independence while proving auditing or any other professional functions ( Hamburg, 2016). This rule directly correlates with objective and independent because it tends to promote fairness among accountants when performing their roles.
Another rule is that objectivity should involve an aspect that to show that value to an accountant’s services. The rule adds that accountants should perform their roles with honesty and should be free from public influence or conflict of interest. In doing so, this will help to reduce ethical behaviours of accountants ( Hamburg, 2016) . The rule this statements has a direct correlation the objectivity independence principle, which requires accountants to perform their and responsibility with truth and honesty.
Continuous assessment of the client is another rule that is accepted by the AICPA Principles ( Zeff, 2018 ) . It implies that an accountant or auditor should maintain regular visiting of his or her client to promote high professionalism. This rule ism has a direct connection with the principle on objectivity which requires that all accounting or auditing services offer to consistent.
Furthermore, the compliance rule requires a member of the professional accounting body should adhere to all professional guidelines while performing their roles. This rule is related to the objectivity principle that guides how accountants should focus on their activities to offer the quality of services to their clients.
Deontological Evaluation of Objectivity and Independence
AICPA Principles contain standard that illustrates the deontological ethical point of view of the principle of objectivity and independence. The main reason for this is because the principle aims at maximizing the satisfaction of their clients ( Zeff, 2018 ) . For instance, the objectivity principle aims at focusing on a specific problem that an accountant offers to his or her client. On the hand, the principle of independence helps in maintaining secrete of the client. On the other have accountants should avoid any relationship that compromises their freedom so as not to impair objectivity and integrity, such as holding investments in the company while also serving in the capacity of an accountant
Christian Evaluation of Objectivity and Independence
Serving the public interest is a consistent principle with Biblical imperatives extolling the virtues of honesty, integrity, and loving your neighbour. Besides, the principle is prescriptive and deontological, which is compatible with Christian ethics ( Zeff, 2018 ). Regarding the duty to serve the public interest, we see that God charges us not only to love God supremely and fervently but as an extension of this we should love our fellow man
References
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