Codes of ethics and self-regulation for non-public accountants: A public policy perspective

Recently, the question has arisen of whether it is necessary for accountants not in public practice to be subject to a code of ethics. Such accountants generally work in an environment different from the public accounting environment. No government licensing system for accountants exists other than certified public accountants and public accountants, thus raising the question of whether all accountants not in public practice should be governed by a code of ethics. Issues related to self-regulation, a monopoly position (licensing), and a code of ethics for accountants not in public practice are explored, and public policy issues requiring further clarification are raised as areas for research. Consideration is limited to the accounting occupation within the US.