Code Sections
Name
Institution
The first code section is 1.100.001, which delves into matters to do with integrity and objectivity (AICPA, 2014). The code looks into the issue of conflict of interest in an organization. In the situation, a professional perform a transaction for a member of the family or a colleague at work; it can be asserted his or her judgment was impaired. Therefore, there is a possibility that such actions will not be optimal since there might be a misrepresentation of facts and data. With that in mind, every professional is supposed to declare any conflict of interest before taking on any client.
The second code section is 1.200.001 addresses matters to do with independence. This code section stresses the need to ensure accountants who are in public practice expedite their mandate in a manner that is free from any form of influence. Notably, there are several situations where the independence might be compromised, for instance, in the situation the accountant makes investment decision for the clients and when the accountant takes temporary custody of the assets that are owned by the audit client. Even so, that does not prevent the accountant from playing an advisory role in matters to do with the allocation of funds to different investments.
The third code section is 1.710.001, which ascertains that the accountant should not disclose any confidential information that belongs to the client unless there is consent from the owner. For the consent to be effective and valid, it will have to be put in writing. Even in the case, any information about a client comes to the attention of the accountant, he or she is not supposed to disclose it to the public. That will not only amount to a violation of ethics but also an instance of malpractice.
References
American Institute of Certified Public Accountants. (2014). Integrity and Objectivity Rule. Retrieved from https://pub.aicpa.org/codeofconduct/Ethics.aspx#