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. This course will start with a video segment provided by the Virginia Board of Accountancy (VBOA). The VBOA video segment includes important information that Virginian CPAs should know and understand. The specific topics discussed in the 2023 video segment include the use of the CPA title, mobility/reciprocity, firm license do’s and don’t’s, and finally, engagement letters.
The course then identifies 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.
Finally, this course will amplify the importance of ethics through the display of previous disciplinary actions taken out by the VBOA. These examples will demonstrate the real-life consequences of not applying proper professional ethics when practicing as a CPA practitioner.
This course has been approved by the Virginia Board of Accountancy. You can find our provider and course information on the VBOA website at: https://boa.virginia.gov/individual-cpas/cpe/vboa-approved-ethics-course/approved-ethics-courses-and-providers-2023/
Upon completion of this course, students should be able to:
- Identify Virginia CPE requirements
- 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 unethical actions that has seen discipline from the VBOA.
CPE Credit: 2 CPE for Virginia CPAs
Instructional Method: Self-Study
NASBA Field of Study: Ethics
Program Prerequisites: None
Advanced Preparation: None
Revision Date: January 10, 2023