Ethics

Ethics

It seems that everywhere you look, whether T.V., newspaper, or magazines, the Enron debacle is smack in front of us.

Ethics is a word that we at Bailey, Carr & Co., CPAs take very seriously. Many of you may not know that a Certified Public Accountant vows to follow a certain code of ethics, when they become licensed as Certified Public Accountants. There are also Rules of Professional Conduct that we swear to uphold when we join professional organizations such as The American Institute of CPAs and The New York State Society of CPAs. Our Certified Public Accountants are all members of these organizations.

We at Bailey, Carr & Co., CPAs are committed to our professional and ethical standards.

We are required to participate in a Peer Review Program to maintain our membership within The American Institute of CPAs. Every three years, an impartial firm audits the work papers of random clients. We perform our own in-house peer review during the years between the required peer reviews. At this time, we randomly select client files to review our work papers. We also review our research and law libraries. We review our continuing education requirements to, not only make sure that they are being adhered to, but also to make sure that we are gearing our education to meet our clients needs.

Since 1994 when the peer review program began, we have received unmodified opinions each time. This means there were no modifications required to any of our work product that was reviewed. This is a positive result.

To maintain licensure as a Certified Public Accountant, we are each required to have a minimum of 40 continuing education hours every year. Our CPAs have averaged in excess of 70 hours in continuing education hours each year for the past five years.

There are also continuing education requirements to maintain our designation as Certified Fraud Examiners and also to maintain the License as a Certified Public Accountant in Pennsylvania. All of these requirements are adhered to.

Integrity is the backbone of our profession. To assist our clients in meeting their objectives they have to have a level of trust and a level of confidence in our firm.

At Bailey, Carr & Co., CPAs, we are committed to our professional and ethical standards.

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