When dealing with issues such as professional ethics, the stakes can be high. This is why such care is taken to painstakingly clarify terms such as integrity and independence in the AICPA Professional Code of Conduct, as they could otherwise be open to interpretation.

Knowing the terms and definitions identified in the "Principles of Professional Conduct" section of the preamble to theAICPA Professional Code of Conduct; Select one of the principles (e.g., responsibilities, public interest, integrity, objectivity and independence, due care, or scope and nature of services) and relate it to a current event that demonstrates that principle being threatened or otherwise not adhered to.