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AICPA Code Of Professional Conduct: Case Study

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AICPA Code Of Professional Conduct: Case Study
4) According to Rule 301 of the AICPA’s Code of Professional Conduct, a CPA should not disclose confidential client information without the consent of its client. It is important to point out that Rule 301 does not relieve a CPA from performing his or her other professional obligations. Rule 201 of the AICPA’s Code of Professional Conduct states an auditor is obligated to exercise due professional care in the completion of all services and obtain sufficient, relevant information to provide a reasonable basis for all professional judgements.

The weight of Rule 301 against Rule 201 is one of particular relevance to Arthur Andersen and their audit of FOF. Arthur Andersen acknowledged that they did information gathering regarding KRC sales
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