Professional Ethics

PICPA Code of Professional Conduct

Pennsylvania Institute of Certified Public Accountants (PICPA) is a voluntary membership organization. PICPA members are expected to adhere to the PICPA Code of Professional Conduct, which consists of three categories of ethical standards:

• Principles of Professional Conduct - Provide the framework for the rules and express recognition of members’ responsibilities to the public, to clients, and to colleagues.
• Rules of Conduct - Govern the performance of professional services by members.
• Interpretations of Rules of Conduct - Provide guidelines as to the scope and application of the rules.

In addition, a fourth category, Ethics Rulings, consists of formal rulings summarizing the application of Rules of Conduct and Interpretations to a particular set of factual circumstances.

Principles of Professional Conduct

• 51 – Preamble
• 52 – Article I – Responsibilities
• 53 – Article II – The Public Interest
• 54 – Article III – Integrity           
• 55 – Article IV – Objectivity and Independence
• 56 – Article V – Due Care
• 57 – Article VI – Scope and Nature of Services

Rules of Conduct and Interpretations

• 101 – Independence
• 102 – Integrity and Objectivity
• 201 – General Standards
• 202 – Compliance with Standards
• 203 – Accounting Principles
• 301 – Confidential Client Information
• 302 – Contingent Fees
• 400 – Responsibilities to Colleagues [Reserved]
• 501 – Acts Discreditable
• 502 – Advertising and Other Forms of Solicitation
• 503 – Commissions and Referral Fees
• 504 – [Deleted]
• 505 – Forms of Practice & Name

Ethics Rulings

A listing of applicable Ethics Rulings is available in each section of the AICPA Code of Professional Conduct. These rulings have been adopted by the PICPA Professional Ethics Committee.