Which group requires CPAs to follow a professional code of ethics and standards? a) American Institute of Certified Public Accountants b) Internal Revenue Service c) Securities & Exchange Commission d) Local taxing agency

Business Dec 25, 2020

Which group requires CPAs to follow a professional code of ethics and standards?

a) American Institute of Certified Public Accountants

b) Internal Revenue Service

c) Securities & Exchange Commission

d) Local taxing agency

Expert Solution

Correct Answer:

Option (a)American Institute of Certified Public Accountants is the correct answer because CPA's clear the certification from the same institute. So they have to follow a professional code of ethics and standards of this institute.

Incorrect Answers:

Option (b) Internal Revenue Service is not the correct answer.

Option (c) Securities & Exchange Commission is not the correct answer

Option (d) Local taxing agency is not the correct answer

So correct answer an option (a) American Institute of Certified Public Accountants

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