Abstract
Part 1 presents an analysis of these issues as they relate to the various standards including the AICPA Code of Professional Conduct, the AICPA Statement on Standards of Tax Practice, the Internal Revenue Service's Circular 230, relevant sections of the Internal Revenue Code and the New York State Board of Regents, which governs the licensure of the New York CPA. New York State Law. Similar to the Code of Professional Conduct, practitioners who are licensed, certified, or registered pursuant to Title VIII of the New York State Education Law, should refer to the following state laws in order to determine their professional responsibility in multiple aspects of the profession: * Title VIII and Article 149, "Public Accountancy," of the NYS Education Law * Part 29, "Unprofessional Conduct," of the Rules of the Board of Regents * Part 52-13, "Registration of Curricula, Accountancy," and Part 70, "Public Accounting," of the Commissioner's Regulations. Standards Related to Confidentiality, Independence, and Conflicts of Interest The areas of confidentiality, independence, and conflicts of interest have long been issues that tax practitioners find the necessity for interpretation when faced with complicated client issues. Because of the unique nature of the work of CPAs, sometimes terminology such as "independence" is used, whereas in other areas of tax preparation a "conflict of interest" is used.