Question

Violating an American Institute of Certified Public Accountants or IRS rule may result in which consequence?

Answer 1

Answer:

Any or all of this

Explanation:

The Code provides the ethical framework that all member CPAs must adhere to. You are also subject to the ethics code imposed by your state – though most states adopt a code that’s identical, or at least similar, to the AICPA’s.

Most conduct code violations don’t result in revocation of CPA licenses by state boards of accountancy, which is the most severe penalty an accountant can face and is usually reserved for more egregious acts, such as fraud and other criminal activity. However, the AICPA and your state society have the authority to expel or suspend your membership if their investigation concludes that you violated a Code of Conduct rule.

This may result in any of this consequences: Suspension, monetary penalty or admonishment depending of the fault