Ethics for Accountants (4 hrs)

Course Description

Ethics for Accountants

This is an ethics course covering standards of professional conduct and business practices adhered to by accountants such as CPAs in order to enhance their profession and maximize idealism, justice and fairness when dealing with the public, clients and other members of their profession. It also presents an approach –the threats and safeguards approach –to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Also included are some cases of AICPA ethics violations.
This course qualifies for CPA ethics CPE in the following states, which do not require a state-specific ethics course: (Consult your state’s requirements for further information).
AR, CA, CO, DC, HI, ID, IL, IN, IA, KS, KY, ME, MD, MA, MI, MO, MT, NE, NV, NH, NC, NM, OK, PA, PR, RI, VT, and WV.
*Idaho CPAs renewing their license can take this course. (New licensees must take a state-specific course).
*KS, KY, MI, and MT require 2 CPE hours in ethics per license cycle; MO and NC require 2 CPE hours in ethics annually; RI requires 6 hours in ethics.

Course Information

Price: $59
Course No. 2001
Format: Online pdf (91 pages). Printed book available.
Prerequisites: None
Advance Preparation: None
Level: Overview
CPE Credit: 4 hrs.
Field of Study: Regulatory Ethics
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: March 2016

Objectives

Chapter 1 Ethics and Ethical Reasoning
After studying this chapter, you should be able to:
● Identify the characteristics of ethics.
● Recognize ethical reasoning used by accountants.

Chapter 2 AICPA Code of Professional Conduct
After studying this chapter, you should be able to:
● Differentiate between rulings and principles of the AICPA’ Code of Professional Conduct.
● Identify the six principles and list the eleven rules of the AICPA Code of Professional Conduct.
● Recognize ethics rulings on independence.
● Resolve ethical dilemmas using the threats and safeguards approach, a conceptual framework.

Chapter 3 Other Ethical Standards
After studying this chapter, you should be able to:
● List the key features of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence.
● List consulting services prohibited by the Sarbanes-Oxley (SOX) Act of 2002.
● Identify licensing and disciplinary mechanisms within the profession.
● Outline the AICPA’s Standards for Tax Services.
● Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA).

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