CPAs are professionals that are required to make ethical decisions daily when performing their duties. Ethics are moral principles or values that tend to be unique to each individual and are used to shape decisions. Ethical standards are based on ethical principles. All CPAs are required to apply ethical principles to their practice and to the services that provide. This course identifies why it is crucial for all CPAs to practice ethics and to solve ethical dilemmas that they encounter. Part one of this course will identify the need for ethics in the CPA profession and the ethical principles that all CPAs are required to comply with when performing their duties. This course will review ethics rules, regulations, and entities that provide ethics enforcement for CPAs. Part 2 of this course will review the principles of the AICPA’s Code of Professional Conduct. It will identify when independence is considered to be impaired and define discreditable acts.
Upon Completion of this course, students should be able to:
- Identify the different organizations that create and enforce ethical standards.
- Recognize how the Sarbanes Oxley Act imposes auditor independence standards.
- Identify the two areas defined by the AICPA’s Code of Professional Conduct.
- Recognize the principles of the AICPA’s Code of Professional Conduct.
- Identify when independence is considered to be impaired.
- Recognize the AICPA rules for contingency fees and provide at least one example of acts where contingency fees cannot be collected.
- Identify different actions that are considered discreditable acts.
CPE Credit: 4 CPE for North Dakota CPAs
Instructional Method: Self-Study
NASBA Field of Study: Ethics
Program Prerequisites: None
Advanced Preparation: None
Revision Date: March 15, 2023