Which of these describes the Code of Professional Conduct?

The Code of Professional Conduct serves as a guideline for ethical behavior among Certified Public Accountants. It outlines the principles and standards that CPA professionals should follow to maintain integrity, objectivity, and professionalism in their practice. While adherence to the Code is not legally mandated in the same way as governmental regulations, it is essential for building trust with clients and the public at large, fostering a culture of ethical decision-making within the profession, and guiding CPAs in their professional responsibilities.

This understanding of the Code emphasizes its role as a framework that upholds professional integrity rather than as a strictly enforced legal requirement or a set of optional rules. This means that while CPAs are expected to adhere to the Code, it primarily serves as a tool to guide ethical conduct rather than impose legal penalties or serve as governmental regulation.