One of the differences between the ethical obligations of CPAs and lawyers is:
A) Lawyers are obligated first and foremost to the public interest while CPAs are obligated to their clients' interests
B) Lawyers are obligated first and foremost to the client's interest while CPAs are obligated to the public interest
C) Lawyers and CPAs both must be independent of their clients
D) Lawyers and CPAs must exercise objective judgment

Question

Quizplus · Accepted Answer

Lawyers have a fiduciary duty to act in the best interests of their clients, while CPAs have a responsibility to serve the public interest by maintaining objectivity, integrity, and due care in their professional activities. This difference in obligations reflects the fact that lawyers are advocates for their clients, while CPAs serve as independent auditors, advisors, and consultants. However, both professions require ethical behavior and the exercise of objective judgment.

One of the Differences Between the Ethical Obligations of CPAs