Conflicts of interest: irs rules differ from aicpa professional standards by kenneth m horwitz, jd, llm, cpa.
Apparent conflicts of interest may not be a violation of the rules of conduct if the information is disclosed to the member's client or employer (aicpa code of professional conduct) for example, if a partner of a cpa firm recommends that a client have the security of its internet website evaluated by a technology consulting firm that is owned by the partner's spouse, a conflict of interest may appear to exist.
A second cpa, phil does the personal tax work for jill, the vice-president of oneway in the scenario, there is no interaction between jon and oneway corporation directly nor are there any interaction between jon, cpa and jill, vice-president oneway corporation. The standard for defining conflicts of interest is objectivity to determine if there is a conflict, a cpa should ask whether a reasonable person would view the cpa-client relationship as impairing objectivity, regardless of the practitioner’s good intentions.
Conflicts of interest may arise between the cpa and the client, or they may arise as conflicts between clients, making it important to identify potential conflicts on each engagement at the time it is undertaken.
Accountants and conflicts of interest in the legal and accounting professions, potential conflicts of interest can arise before or during the course of an engagement most firms have policies and procedures in place that govern how conflicts are identified and managed, to ensure that client and public interests are not jeopardized.
Is effective december 15, 2014 under the “conflicts of interest for members in public practice” interpretation 1 “conflicts of interest for members in business” interpretation  and paragraph 03 of “application of the aicpa code” [0200020. A conflict of interest is a situation in which an individual has competing interests or loyalties conflicts of interest involve dual relationships one person in a position in one relationship and a relationship in another situation a conflict of interest can exist in many different situations.