With the goal of maintaining the public’s trust in CPAs, the Code guides accountants in conducting themselves in ways that protect the profession’s integrity.

One significant ethical point in the Code prevents CPAs from working for individual and business clients that present a conflict of interest or that compromise independence. For example, an accountant who considers auditing the financial statements of a Fortune 500 company in which he holds a substantial stock investment presents a situation where independence and conflict of interest issues can arise. The Code provides more detail about when a CPA is responsible for removing herself from the engagement.

Another example of an ethical requirement of the Code requires a CPA to be competent in the work he does, such as knowing when an engagement is beyond his area of expertise, a situation when it becomes irresponsible to provide the services and to ensure compliance with generally accepted accounting principles.

The Code’s rules cover issues like a CPS's obligation to keep client information confidential and restrictions on charging clients contingency fees.

It also provides guidance on appropriate ways of advertising CPA services to avoid misleading the public.