To preserve their honorableness, accountants should, more than anything else, be honest to themselves and their profession (Ionescu, 2016a, b), and inspect the suitability and concealed inferences of the accounting norms they employ as the latter have ethical consequences regarding the accountant's responsibility
to provide factual and precise pictures.
A147) as part of the accountant's responsibility
19 revises the reporting requirements for compilation and review engagements to make the reports clearer as to management's responsibilities and the accountant's responsibility
Although it reinforces the accountant's responsibility
, it does not add any new accountability for planning and supervising the service provider's work beyond what is called for by applicable professional standards based on the type of engagement.
Rule 301 under the AICPA Code clearly states a professional accountant's responsibility
to hold client information confidential.
This broader definition mitigates the accountant's responsibility
to evaluate employee competence.
parties outside the entity) would typically be beyond the scope of the accountant's responsibility
, Interpretation 26 lists the following three circumstances that would require such communication:
The assumption was that an accountant's responsibility
would be restricted to what was in the letter.
It is the fourth authoritative expression issued by the profession in the last twenty-five years that attempts to define the accountant's responsibility
to detect fraud when performing an audit of financial statements in conformity with generally accepted auditing standards (GAAS).
Although the AICPA has recently restated the accountant's responsibility
to uncover material frauds, it is a belated response to what has long been the perception of an auditor's work by the general public.
The accountant's responsibility
is for the report and the work that underlies it.
This has been defined as the difference between what the public perceives the accountant's responsibility
to be and what the accountant thinks is sufficient and professional performance.