What is the role of professional ethics for CPAs in their practice?

The role of professional ethics for CPAs in their practice is primarily to establish trust and integrity within the accounting profession. This ethical framework serves as the foundation for how CPAs conduct their work and interact with clients, stakeholders, and the public. Ethical standards help ensure that CPAs act in the best interests of their clients while upholding a commitment to honesty, transparency, and accountability. By adhering to these principles, CPAs can foster public confidence in the financial reporting and advisory services they provide, which is crucial for the credibility and effectiveness of the profession.

Professional ethics also compel CPAs to maintain objectivity and independence, which are essential for delivering unbiased assessments and recommendations. This integrity forms the core of the accountant-client relationship and is vital for the sustainability of the profession. In contrast, focusing on personal income management, tax law compliance only, or protecting clients' interests without restrictions does not address the broader ethical responsibilities and impacts that CPAs face in their roles.