of the AICPA membership (Ibid.).
The important change in the Code was philosophical, as opposed to some of the specific changes made. Where the emphasis in the prior code was on proscribing specific activities, the emphasis in the revised code is on positively stated ethical goals for the public accounting profession.
The second proposed change elicited significant opposition; however, it was approved by 76 percent of the AICPA members. This change implemented a practice-monitoring program, which means that the operations and policies of every member firm of the AICPA will be subjected to peer review. The emphasis in the program will be on education and corrective action, as opposed to discipline, although disciplinary actions under the program are possible.
An additional facet of the peer review change requires that member firms refusing such review be stripped of their membership in the AICPA. Further, individual AICPA members will not be permitted to retain their membership, and continue to work for a firm which has refused peer review (Cottle, 1988, 76-80).
The third proposed change involved reform of the Joint Trial Board, by combining the existing 12 regional boards into a single national board. The 36 members of the new national board will be selected on the basis of three from each of the 12 regions, and hearings will involve five board members, which will be selected from either the region from which the ca
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