Do you think it would be sufficient to include a statement that you will adhere to AICPA ethical standards or actually spell out those standards? What are the pros and cons of each approach?
In my opinion, it is sufficient to include a statement that AICPA standards and policies will be adhered to, without going into details. First of all, to actually spell out the standards would take several pages. The AICPA Code of Professional Conduct, which also encompasses the AICPA Code of Ethics, includes seven sections and four additional sections of rules, aside from the original seven sections. I think that when the professional makes a statement that AICPA ethical standards will be adhered to, it is common knowledge that it means the professional will act ...
The solution gives a detailed discussion examining if it is sufficient to include a statement that you will adhere to AICPA ethical standards or if you need to actually spell out those standards. The pros and cons of each approach are also discussed in detail. This solution is written based on 25+ years of professional accounting experience.