Julio, a tax preparer, encounters an ethical issue related to an individual client. Which source of rules would be least likely to lead Julio to understand his professional responsibilities?
A. IRS Circular No. 230
B. Statements on Standards for Tax Practice
C. AICPA code
D. SEC Rule 2-01

The least likely source for Julio to understand his professional responsibilities as a tax preparer is the SEC Rule 2-01, as it pertains to auditor independence rather than tax preparation ethics. Other sources like OIRS Circular No. 230 and AICPA Code are directly relevant. Therefore, the SEC rule does not provide the necessary guidance for tax ethics. ;

Answered by GinnyAnswer | 2025-07-04

The least likely source for Julio to understand his professional responsibilities is SEC Rule 2-01, as it focuses on auditor independence rather than tax preparation ethics. In contrast, IRS Circular No. 230, Statements on Standards for Tax Practice, and the AICPA Code are all directly relevant to tax preparers. Therefore, SEC Rule 2-01 does not provide the necessary guidance for Julio's ethical obligations as a tax preparer.
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Answered by Anonymous | 2025-07-06