When a CPA firm distributes an Annual Tax Guide, what must be true about the content to comply with professional conduct?

The requirement for a CPA firm distributing an Annual Tax Guide to ensure that the content is not false or misleading is grounded in the principles of professional ethics and integrity upheld by the accounting profession. CPAs are obligated to provide accurate information and maintain a standard of honesty and transparency in their communications. Providing misleading content would undermine public trust in the profession and could lead to misinformation, harming clients who rely on the guide for tax-related decisions.

A tax guide falling short of accuracy and truthfulness could result in serious consequences for clients, including financial penalties or legal issues. Therefore, it is crucial that the guide reflect accurate information to assist clients in complying with tax laws and regulations. This is aligned with the CPA's fundamental ethical duties of due care and objectivity.

The other options do not conform to ethical standards. For instance, suggesting that the content must be misleading or that a firm does not believe in its accuracy directly contradicts the core ethical mandate for honesty. Also, it does not align with professional standards to mandate that a firm must charge for the guide; providing such information can be done freely as part of a firm's commitment to public service and education.