The Professional Ethics Executive Committee (PEEC) issued new interpretations and revisions last week that significantly changes previous ethics guidance.
The guidance covers a wide range of topics, including noncompliance with laws and regulations for both members in business and public practice, the effects of various loans on independence, threats to independence posed by unpaid client fees and more.
The new guidance describes CPAs’ responsibilities, enables consistency with SEC requirements and merges with guidance from the International Ethics Standards Board for Accountants. Learn more.