A CPA is challenged in today’s work world to not only serve his/her client or employer but also to protect the public interest by ensuring that there is transparency in financial reporting or there is fair administration of the tax laws. In balancing the two interests, a CPA may find him or herself in an ethical dilemma. This course covers not only basic ethical frameworks, but also specific rules from the AICPA Code of Professional Conduct, and the Utah State Code, Administrative Rules and Code of Professional Conduct. These sources govern the practice and responsibilities of Utah CPAs. It concludes with a section on how a CPA can put his or her ethics into action.
- To apply the ethics of professional accounting as CPAs through the analysis of case studies involving both actual situations and hypothetical facts.
- To apply ethical judgment in interpreting the rules and determining public interest. Public interest should be placed ahead of self-interest, even if it means a loss of job or client.
- To analyze and apply the AICPA Code of Professional Conduct and Utah law that pertain to CPAs licensed to practice in the state of Utah. Students will become familiar with the Utah State Code, Administrative Rules and Code of Professional Conduct, and the Policies adopted by the Board currently in effect and how the statutes, rules, and policies pertain to them.
- To determine the course of action that would uphold the intent of the rules in the performance of professional accounting services/work, not just to adhere to the mere technical compliance of such rules.
- To review and discuss the rules and their implications for persons in a variety of practices, including:
- CPAs who provide assurance, attest or compilation services.
- CPAs who provide tax services.
Recommended UT Hours: 4 CPE credit hours will be granted based on a 50-minute hour in accordance with the standards of the Utah Board of Accountancy.
Field of Study: Regulatory Ethics
Program Level: Basic
Advanced Preparation: None
Delivery Method: Self-Study
Author: Allison M. McLeod LL.M., JD, CPA
NASBA Sponsor Statement: Allison M. McLeod, LL.M., CPA, A PLLC, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on acceptance of individual courses for CPE credit.
Date course was updated: March 15, 2023.