Independence Integrity & Objectivity in Performing Forensic and Valuation Services, Special Report 08-1

• Purpose of the Special Report
• Forensic Accounting Services
• Valuation Services
• Principles of Independence, Integrity, and Objectivity
• Independence
  
• Integrity and Objectivity
• Conflicts of Interest
• Regulatory Authorities
• Summary
• Appendix A - Conflict of Interest Decision Tree
• Appendix B - Professional Responsibilities-Differences Between the CPA and Attorney
• Appendix C - Frequently Asked Questions
• Appendix D - Illustrative Case Examples
• Appendix E - List of Resources (Nonexhaustive List)

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PRINCIPLES OF INDEPENDENCE, INTEGRITY, AND OBJECTIVITY

5. The fundamental principles that should guide the conduct of AICPA members are set out in the Code of Professional Conduct in ET sections 51-57 (AICPA, Professional Standards, vol. 2), and apply to all AICPA members who provide forensic accounting or valuation services to an entity (for instance, a client or an employer).
6. When forensic accounting or valuation services are provided to an entity that requires the member be independent (for instance, an attest client), the member should also comply with Ethics Interpretation No. 101-3. To the extent Ethics Interpretation No. 101-3 does not address the member's specific situation, Ethics Interpretation No. 101-1, "Interpretation of Rule 101," under Rule 101, Independence (AICPA, Professional Standards, vol. 2, ET sec. 101 par..02), refers the member to the guidance in the Conceptual Framework for AICPA Independence Standards.
7. This special report addresses the practical issues that may arise when attempting to meet the objectives of the fundamental principles of independence and integrity and objectivity when providing forensic accounting or valuation services.