ACC618 Week 4 Discussion 1 CPA Independence

Can a CPA be independent without being objective? Why or why not? Can a CPA be objective without being independent? Why or why not? Does your answer matter assuming you only provide only non-auditing services to the client? What if you provide both audit and non-auditing services?

I think to adequately address the topic is essential to define “independent” by the American Institute of certified Public Accountants (AICPA) (AICPA). The AICPA defines “independent” as a state of mind that allows and permits the member to perform and demonstrate that he/she can offer a quality service without being persuaded, affected, or manipulated professionally (Jenkins, J., 2018). (Jenkins, J., 2018). A CPA is asked to act in an impartial and unbiased manner (Mintz, 2014). (Mintz, 2014). Considering both meanings from the regulatory and governing accounting entities. A CPA would not be able to be independent without being objective or vice versa. What I mean by that is that in the accounting profession objectivity and independence are both values that are highly significant and go hand in hand with each other, therefore not being independent so each other. For example, if a CPA where to drift away from a cooperation, group or team audit this say generate a conflict of interest because they are no longer engaging or involved in the team effort sand working towards the same purpose. Yes, independence within the group or unit is important because each member of the audit team will need to review a specific portion of the financial documents which in turn will enable for completion of an audit. It’s crucial that the accountant be independent in his/her assigned duty to ensure that the entire audit is finalized and completed in a timely manner. Now, the same goes when an accountant is delivering non-accountant services. The responsibility of the accountant is to serve the public in an ethical fashion the job serves the best interest of the public. He she need to be autonomous enough to be able to perform the assignment by themselves and subjective enough to discover the best answer and deliver the finest service to the public.

References

Mintz, S. M., & Morris, R. E. (2014). Ethical obligations and decision making in accounting: Text and cases (3rd ed.). Retrieved from https://www.vitalsource.com

Jenkins, J. G., Popova, V., & Sheldon, M. D. (2018). In support of public or private interests? An examination of sanctions imposed under the AICPA code of professional conduct. Journal of Business Ethics, 152(2), 523-549. Doi: http://dx.doi.org.proxy-library.ashford.edu/10.1007/s10551-016-3308-2