Page 247 - JoFA_2022

ETHICS

Code of conduct

changes address

NOCLAR, unpaid

fees, loans,

assisting clients

with standards

Learn more about what these changes entail.

By the staff of the AICPA Professional Ethics Division

he AICPA Professional Ethics Executive allowed. The NOCLAR interpretation is effective
Committee (PEEC) adopted revisions to June 30, 2023, and early implementation is also
Tthe AICPA Code of Professional Conduct at allowed.
its February 2022 meeting related to the following We summarize the changes below. Click on
four projects: the links in the article to read the full text of
■ Noncompliance with laws and regulations the changes.
(NOCLAR);
■ Unpaid fees; NOCLAR
■ Assisting clients with implementing accounting NOCLAR is an international convergence
standards; and project whereby PEEC developed and approved
■ SEC convergence: loans, acquisitions, and other the adoption of two new interpretations of the
transactions. “Integrity and Objectivity Rule” (ET §1.100.001
All but the NOCLAR interpretation are and ET §2.100.001), titled “Responding to
effective Dec. 31, 2022, with early implementation Noncompliance With Laws and Regulations”

journalofaccountancy.com June 2022 | 31