Self-Study
4
Overview
Texas Ethics
There are no prerequisites.

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

Joseph Helstrom, CPA

Joseph Helstrom, CPA, is a partner at CFO Resources, LLC, a company focused on training and courseware for CPAs. He’s also the owner of Mill Creek Publishing LLC. Joe has over 30 years of experience as a CPA in both public accounting and industry, with extensive experience in financial reporting and analysis, treasury, tax, information technology, legal and regulatory matters, and strategic planning.

After graduation from Butler University with a degree in accounting, Joe got his start at Ernst & Young. Subsequent to that, he has served for several different companies as a chief financial officer; director of treasury and tax; controller; and manager of financial planning, reporting, and analysis.

Joe and his wife, Patricia McCarthy, produce self-study courses for Western CPE and have published articles in Missouri and Texas CPA society publications titled “Incorporating Excel Arrays into Your Audit Plan.”



Course Specifics

Texas Ethics
May 8, 2017
There are no prerequisites.
SS4150625
61
None


Compliance Information

103220
Qualifies for CA Fraud: No


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



Choose Your Preferred Format


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.

online access
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.

hard copy
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.

hard copy


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