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There is of course a huge difference between an "accountant" and a CPA. CPAs do have a code of ethics, but I'm not sure if it really has any teeth in practice.
by mturmon 7y ago
There is of course a huge difference between an "accountant" and a CPA. CPAs do have a code of ethics, but I'm not sure if it really has any teeth in practice. Care to comment?
- elliekelly 7y ago> There is of course a huge difference between an "accountant" and a CPA. This is a very good point. And I should probably clarify that when I wrote my original comment I was indeed thinking more of a "bookkeeper" than a CPA. I am (fortunately) not too familiar with the AICPA's enforcement of their Code of Conduct. As far as the obligations of a CPA who suspects fraud it's more of a duty to report suspicions to someone in management who's probably not involved in the fraud and is in a position to investigate it. But it's very situation-dependent.