Ethics & Independence

Rules

These rules have been adopted by the PCAOB and approved by the Securities and Exchange Commission ("Commission").

Interim Standards

In April 2003, the Board adopted certain preexisting standards as its interim standards. Pursuant to Rule 3500T, Interim Ethics Standards consist of ethics standards described in the AICPA’s Code of Professional Conduct Rule 102, and interpretations and rulings thereunder, as in existence on April 16, 2003, to the extent not superseded or amended by the Board.

Pursuant to Rule 3500T, Interim Independence Standards consist of independence standards described in the AICPA’s Code of Professional Conduct Rule 101, and interpretations and rulings thereunder, as in existence on April 16, 2003, to the extent not superseded or amended by the Board, and certain standards, and interpretations, of the Independence Standards Board, to the extent not superseded or amended by the Board.

As mentioned in Rule 3500T, the Board's Interim Independence Standards do not supersede the Commission's auditor independence rules. See Rule 2-01 of Reg. S-X, 17 C.F.R.§ 210.2-01. Therefore, to the extent that a provision of the Commission's rule is more restrictive – or less restrictive – than the Board's Interim Independence Standards, a registered public accounting firm must comply with the more restrictive rule.

Interim Standards AICPA Copyright