Course Description

2010 Personal & Professional Ethics for North Carolina CPAs

Ethics Requirements

(4 credits) $59.95

Ethical behavior involves more than mere knowledge of right and wrong. It involves an ability to think about the impact our behavior has on our reputation and the satisfaction of those we serve. Certified Public Accountants (CPAs) are professionals who are hired to meet the expectations of employers and other third parties who rely on their work. Many who hire CPAs, hire them because they can’t do the things a CPA can do. However, even more important than the inability to do the work of a CPA, those who hire CPAs are often unable to evaluate the work performed by a CPA. Does the taxpayer know that the tax return is properly prepared? Is the attest client sure the CPA put forth an appropriate effort in arriving at the attest opinion? Are the financial accounting transactions recorded and summarized in accordance with generally accepted accounting principles? To be honest, most third parties who rely on the work of a CPA merely assume that the efforts of the CPA were directed at satisfying their expectations and needs in an appropriate manner. Thus, the accounting profession demands that CPAs remain aware of the reliance that is placed on their work and the responsibility they have for performing that work in a conscientious and professional manner.

This course begins with a presentation of ethics and ethical reasoning. This information is designed to help participants better understand the impact ethics and ethical reasoning has on their personal life and professional career. This section is also designed to help participants understand that being ethical requires a periodic assessment of both personal and professional behavior. Next, a presentation of the core values of the accounting profession - integrity, objectivity, and independence - from both an ethical and rules-based point of view is provided. Understanding and adhering to these core values is critical to CPAs in discharging the responsibilities they have to their employers, to their clients, and most importantly to the public. A review of the AICPA Rules of Professional Conduct is then presented. The final section of the course material focuses on the North Carolina Accountancy Rules,Professional Ethics and Conduct. This material is designed to clarify the Rules of Professional Conduct and demonstrate how those Rules are intended to be applied by CPAs in a variety of professional situations. Case presentation, and quiz questions are used throughout the course to reinforce participant understanding of the course content.

This course provides an interesting and informative approach to a better understanding of the impact ethics and ethical behavior can have on the success of accounting professionals.

Major Subjects:

	To identify and discuss ways in which CPAs can go about achieving and maintaining high standards of ethical conduct.
	To discuss the concepts of ethics and ethical reasoning and demonstrate the impact these concepts have on CPAs and the work they perform.
	To present and discuss the core values of the profession integrity, objectivity, and independence from both an ethical and rules based point of view.
	To describe the responsibilities of CPAs to maintain and honor the public’s trust.
	To clarify and demonstrate the manner in which the Rules of Professional Ethics and Conduct are intended to be applied by CPAs in a variety of professional situations.
	To discuss, through case analysis, the actions to be taken by CPAs when faced with ethical dilemmas in their professional careers.