New York Accounting Code of Ethics
Essay title: New York Accounting Code of Ethics
New York Accounting Code of Ethics
The Code of Ethics provides guidance on how to maintain the Company’s commitment to being ethical in all its business dealings. In all Company matters, employees must abide by the ethics and compliance principles set forth in this Code as well as all other applicable corporate policies and procedures. Violations of the Code or other policies are subject to disciplinary action, up to and including termination. In some cases, civil and criminal penalties may also apply.
This Code cannot anticipate every possible situation or cover every topic in detail. The central concept of the Code is to confirm the Company’s commitment to the principles of ethical and lawful business conduct, and all business decisions should be evaluated in this light. The business endeavors of the Company must be conducted in accordance with the highest ethical and moral standards, avoiding any activity or transaction which would be in contravention of the law. The importance is to remember that the Company’s success depends in large measure upon public confidence in our integrity and principled business conduct.
In section 301 of New York’s code of ethics is the confidential client information. The section states that a member in public practice shall not disclose any confidential client information without the specific consent of the client. This rule shall not be construed (1) to relieve a member of his or her professional obligations under rules 202 [ET section 202.01] and 203 [ET section 203.01], (2) to affect in any way the members obligation to comply with a validly issued and enforceable subpoena or summons, or to prohibit a members compliance with applicable laws and government regulations, (3) to prohibit review of a members professional practice under AICPA or state CPA society or Board of Accountancy authorization, or (4) to preclude a member from initiating a complaint with, or responding to any inquiry made by, the professional ethics division or trial board of the Institute or a duly constituted investigative or disciplinary body of a state CPA society or Board of Accountancy.
Members of any of the bodies identified in (4) above and members involved with professional practice reviews identified in (3) above shall not use to their own advantage or disclose any members confidential client information that comes to their attention in carrying out those activities. This prohibition shall not restrict members exchange of information in connection with the investigative or disciplinary proceedings described in (4) above or the professional practice reviews described in (3) above.
The principle of professional behavior imposes an obligation on professional accountants to comply with relevant laws and regulations and avoid any action that may bring discredit to the profession. This includes actions which a reasonable and informed third party, having knowledge of all relevant information, would conclude negatively affects the good reputation of the profession.
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