Rules of professional conduct : including amendments and additions prepared by the Committee on Professional Ethics and approved by the Council prior to September 30, 1919

              Am e rican I nstitute of A ccountants
RULES OF PROFESSIONAL CONDUCT
INCLUDING AMENDMENTS AND ADDITIONS PREPARED
BY THE COMMITTEE ON PROFESSIONAL ETHICS AND AP­PROVED
BY THE COUNCIL PRIOR TO SEPTEMBER 30, 1919.
(1) A firm or partnership, all the individual members of
which are members of the Institute (or in part members and
in part associates, provided all the members of the firm are
either members or associates) may describe itself as “Mem­bers
of the American Institute of Accountants” ; but a firm
or partnership, all the individual members of which are not
members of the Institute (or in part members and in part
associates), or an individual practising under a style denoting
a partnership when in fact there be no partner or partners,
or a corporation, or an individual or individuals practising
under a style denoting a corporate organization shall not use
the designation “Members (or Associates) of the American
Institute of Accountants.”
(2) The preparation and certification of exhibits, state­ments,
schedules or other forms of accountancy work, con­taining
an essential mis-statement of fact or omission there­from
of such a fact as would amount to an essential mis­statement,
shall be, ipso facto, cause for expulsion or for such
other discipline as the Council may impose, upon proper
presentation of proof that such mis-statement was either
wilful or was the result of such gross negligence as to be
inexcusable.
(3) No member shall allow any person to practise in his
name as a public accountant who is not a member of the
Institute or in partnership with him or in his employ on a
salary.
(4) No member shall directly or indirectly allow or agree
to allow a commission, brokerage or other participation by
the laity in the fees or profits of his professional work; nor
shall he accept directly or indirectly from the laity any com­mission,
brokerage or other participation for professional or
commercial business turned over to others as an incident of
his services to clients.
(5) No member shall engage in any business or occupation
conjointly with that of a public accountant, which in the
opinion of the Executive Committee or of the Council is
incompatible or inconsistent therewith.
(6) No member shall certify any accounts, exhibits, state­ments,
schedules or other forms of accountancy work which
have not been verified entirely under the supervision of him­self,
a member of his firm, one of his staff, a member of this
Institute or a member of a similar association of good
standing in foreign countries which has been approved by the
Council.