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Course Description
Ethics and Professional Conduct for Texas CPAs is designed to meet the four-hour ethics CPE requirement for Texas CPAs. The course overviews ethical judgment and the ethical standards of the profession, noting ethical core foundations of the CPA profession. The materials provide illustrative examples of real-life ethical dilemmas and include preventative measures to avoid ethical violations. Case studies of ethical lapses aid in applying the spirit and intent of the Texas State Board of Public Accountancy Rules of Professional Conduct.
Western CPE has registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
Texas Sponsor ID: 006477
Instructor
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize the definitions of morals and ethics, noting the differences between each and the role ethics play in society and professional groups.
- Note the ethical core foundations for CPAs, threats to these values, and preventative measures to avoid ethical violations.
- Use ethical reasoning to identify violations in professional dilemmas using the core values of the profession.
- Recognize the ethical standards contained in the AICPA Code of Professional Conduct and Texas State Board of Public Accountancy Rules of Professional Conduct.
Table of Contents
Ethics and Professional Conduct for Texas CPAs
Learning Objectives
Ethics Background
Morals
What is Ethics?
The Relationship of Morals and Ethics
Alcohol
Nike
Summary
Illustrative Examples of Ethics
Professional Ethics
Legal vs. Ethical
Why Should We Study Professional Ethics?
Accounting Ethics
Ethical Core Foundations for CPAs
Independence
Integrity
Objectivity
Other Ethical Foundations of the CPA Profession
Public Interest
Due Care
Review Questions
Ethical Reasoning
Example Thought Process
Example Thought Process
Ethical Dilemmas
Preventative Measures to Avoid Ethical Violations
Case Studies of Notable Ethical Lapses
Bernard Madoff Investment Securities’ Auditor
Ethical Lapses of Friehling
Phar-Mor
Ethical Lapses of Coopers & Lybrand
Enron
Ethical Lapses of Andersen
Questions for Consideration
Case Studies of Other Ethical Lapses
The Travel Expense Department
Ethical Lapses of the Travel Expense Department Manager
Question for Consideration
The Company with Excess Reserves
Questions for Consideration
Analysis of the Case
The Company with Undisclosed/Unrecorded Contingencies
Questions for Consideration
Analysis of the Case
The IRS Audit
Questions for Consideration
Analysis of the Case
Question
Motivations of Ethical Lapses
Questions for Consideration
Review Questions
The Texas State Board of Public Accountancy Rules of Professional Conduct
General Provisions
501.51—Preamble and General Principles
501.52—Definitions
501.53—Applicability of Rules of Professional Conduct
Professional Standards
501.60—Auditing Standards
501.61—Accounting Principles
501.62—Other Professional Standards
Responsibilities to Clients
501.70—Independence
AICPA Independence Rules
501.71—Receipt of Commission, Compensation or Other Benefit
501.72—Contingency Fees
501.73 – Integrity and Objectivity
501.74—Competence
501.75—Confidential Client Communication
501.76—Records and Work Papers
501.77—Acting through Others
501.78—Withdrawal or Resignation
Review Questions
Responsibilities to the Public
501.80—Practice of Public Accountancy
501.81—Firm License Requirements
501.82—Advertising
501.83—Firm Names
501.85—Complaint Notice
Responsibilities to the Board/Profession
501.90—Discreditable Acts
501.91—Reportable Events
501.94—Mandatory Continuing Professional Education
Accountants Confidential Assistance Network
Review Questions
Review Question Answers and Rationales
Glossary
Index
Final Examination
Answer Sheet
Course Evaluation
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Online Access
Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.
Hard Copy
Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.
Self-Study Video
Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.
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