Code of Professional Ethics of the American Institute of Certified Public AccountantsIntroduction“A code of professional ethics is a voluntary assumption of self-discipline beyond requirements of the law. The code of ethical conduct serves the very practical purpose of informing the public that the profession will protect the public interest” (Carey, Doherty: p 3). When people need a doctor, lawyer or accountant, they are looking for someone they can trust and who will do a good job, not for themselves but for them. People assume that the hired professional is qualified since they cannot evaluate him or her. They must believe he is competent. This is why professionals are different from businesses and why there is a need for ethical regulations. The Code of Professional Ethics The Code of Professional Ethics for Public Accountants was developed by the American Institute of Public Accountant and includes four different categories. Ethics establishes major requirements for CPAs in different areas of their daily professional activities. The main parts of the Code are: independence, integrity and objectivity in the practice of public accounting, competence and technical standards, responsibilities to clients, responsibilities to colleagues and other responsibilities and practices. Independence has always been the fundamental concept of the accounting profession. In fact, it is the most essential to the exercise of all professions. Financial reports produced by CPAs would have little value to the public unless CPAs maintained their independence. Independence has always been associated with integrity and objectivity. Since errors in financial statements can result from either an honest mistake or a lack of integrity, it is imperative to combine the concept of independence with objectivity and integrity. In accordance with the requirements of the Code of Ethics, the CPA must avoid any relationship that could result in the CPA becoming dependent on a particular client. These relationships include financial interests and customer management. It is very important that the CPA's opinion reflects the results of operational decisions made by the client and not the underlying ideas which may be the case if a CPA participates in the company's decision-making process. Another important part of the article......special cases presented in the context of ethics decisions. In addition to the standards described above, state and other government CPA institutions establish their own ethical standards. ConclusionProfessional ethics concerns human behavior and human relations. As human society becomes more complex, codes of professional conduct also become more complex. The aim of these rules is to attract and increase public confidence and to discourage behavior incompatible with the image of the profession. Public trust may even be more important to the public accountant than to any other professional, because CPAs care not only about their clients, but also about those who rely on their reports. The Code of Ethics provides members of the profession with historically developed rules to earn public trust. Ethical rules therefore constitute the foundation of public trust. Works Cited John L. Carey and William O. Doherty. Ethical standards of the accounting profession. New York: American Institute of Certified Public Accountants, 1966American Institute of Certified Public Accountants. Code of professional ethics. New York: AICPA, 1977