PURPOSE: This Code of Professional Conduct is promulgated under the authority granted by section 326.271, RSMo which delegates to the board the power and duty to prescribe rules of professional conduct for establishing and maintaining high standards of competence and integrity in the profession of public accounting.

PUBLISHER’S NOTE: The secretary of state has determined that the publication of the entire text of the material which is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. Therefore, the material which is so incorporated is on file with the agency who filed this rule, and with the Office of the Secretary of State. Any interested person may view this material at either agency’s headquarters or the same will be made available at the Office of the Secretary of State at a cost not to exceed actual cost of copy reproduction. The entire text of the rule is printed here. This note refers only to the incorporated by reference material.

1. (1) A licensee shall comply with the professional standards of the most current American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct, including the most current AICPA Interpretations of the Code of Professional Standards. Said standards are incorporated by reference in this rule. A printed copy or copy on CD- Rom, or other electronic copy of the Code of Professional Conduct may also be obtained from the American Institute of Certified Public Accountants, PO Box 2209, Jersey City, New Jersey 07303-2209 or http://www.aicpa.org. The licensee shall also comply with the requirements of any state, territory, federal agency, or country, which may regulate professional responsibilities of accountants. In the event of a conflict between the AICPA Code of Professional Conduct and the Missouri statute or rules, the Missouri statute or rules shall prevail.
2. (2) As the AICPA Code of Professional Conduct is considered to be generally accepted standards of auditing and accounting, regardless whether a licensee is a member or nonmember of the AICPA, the licensee shall comply with its provisions. When these pronouncements are written in terms of “should,” a licensee shall follow the pronouncements in every applicable instance as though they were written in mandatory language, except in those cases where a justifiable reason exists for a departure from the pronouncements in the licensee’s or licensed entity’s report on those financial statements.
3. (3) A licensee who performs audits, reviews, compilations, management advisory services, taxes, or other professional services shall comply with standards promulgated by the AICPA or by other governmental entities having similar authority as recognized by the board. Other professional pronouncements that have similar generally recognized authority are considered to be interpretations of generally accepted auditing standards, and departures therefrom must be justified.
4. (4) A licensee who is engaged in the practice of public accounting outside the United States will not be subject to discipline by the board for departing, with respect to foreign practice, from any of the rules, so long as his or her conduct is in accordance with the standards of professional conduct applicable to the practice of public accounting in the country in which he or she is practicing. However, even in this case, if a licensee’s name is associated with financial statements in a manner as to imply that he or she is acting as a certified public accountant and under circumstances that would entitle the reader to assume that United States practices are followed, he or she will be expected to comply with this rule.
5. (5) In the interpretation and enforcement of the AICPA Code of Professional Conduct, the board will give consideration, but not necessarily dispositive weight, to relevant interpretations, rulings and opinions issued by the boards of other jurisdictions, and by appropriately authorized committees on ethics of professional organizations.
6. (6) The provisions of this rule are declared severable. If any provision of this rule is held invalid by a court of competent jurisdiction, the remaining provisions of this rule shall remain in full force and effect, unless otherwise determined by a court of competent jurisdiction to be invalid.

AUTHORITY: section 326.271, RSMo Supp. 2003.* This rule originally filed as 4 CSR 10- 20 CSR 2010-3 3.010. Original rule filed July 3, 1975, effective Aug. 25, 1975. Amended: Filed Sept. 13, 1978, effective Jan. 13, 1979. Amended: Filed April 5, 2004, effective July 30, 2004. Moved to 20 CSR 2010-3.010, effective Aug. 28, 2006.

*Original authority: 326.271, RSMo 2001, amended 2002.