Certified public accountants have imposed on themselves a rigorous code of professional conduct.
a. Discuss the reasons that the accounting profession adopted a code of professional conduct.
b. One rule of professional ethics adopted by CPAs is that a CPA cannot be an officer, director, stockholder, representative, or agent of any corporation engaged in the practice of public accounting, except for the professional corporation form expressly permitted by the AICPA. List the arguments supporting the rule that a CPA’s firm cannot be a corporation.