Self-Study
4
Basic
Regulatory Ethics
There are no prerequisites.

Course Description

Real-World Ethics for Alaska CPAs is designed to meet the ethical requirements of the Alaska State Board of Accountancy. This course covers the statutes and regulations pertaining to public accountancy including important issues such as practice privileges, continuing education, fees, and accounting and auditing standards. The materials provide an overview of the Board of Accountancy, its role in protecting the public interest, and the goals and objectives set to ensure the standards of competency and practice are enforced. In addition, the course contains information regarding the Board's complaint and investigative process including illustrative examples of real-life ethical issues and disciplinary actions.



Instructor

Rod Redding, Inactive CPA

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. He has over 30 years' experience as a professor at universities such as the University of North Carolina, the University of Utah, Georgetown University, and Gettysburg College. He also has taught internationally at Kenyatta University in Kenya and the American University of Sharjah in the United Arab Emirates. Three different universities have given Dr. Redding awards for excellence in teaching. Dr. Redding holds a CPA certificate but has elected inactive status.

Dr. Redding’s intellectual contributions are in the fields of financial reporting and auditing. He is the coauthor of the book The FASB: The People, The Process, and The Politics. He has written financial accounting articles on topics such pensions, leases, and capitalization of interest, as well as a number of articles on teaching effectiveness. Each year he publishes The World’s Liveliest Accounting Update, which is a financial accounting, auditing, attestation, compilation, and review update. As indicated by the title, this is an exceptionally energetic and engaging presentation. He is known as one of the country’s most dynamic financial and auditing CPE seminar leaders.



Course Specifics

Regulatory Ethics
Nov 1, 2016
There are no prerequisites.
SS4150571
92
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Note the role and objectives of the Alaska Board of Accountancy.
  • Recognize the statutes pertaining to the regulation of the Board of Public Accountants, certified public accountants, and accountants as outlined in the Alaska Public Accountancy Statutes, noting unlawful acts and penalties as well as general and miscellaneous provisions.

Chapter 2

  • Identify rules and regulations pertaining to professional conduct, the board of accountancy, licensure and renewal, examination, permits and practice privileges, continuing education, disciplinary guidelines, and quality review as outlined under the Alaska Public Accountancy Regulations.
  • Note the process for filing a complaint, the steps in the investigative process, and the potential or applicable disciplinary action meted by the Board.



Table of Contents

 

Chapter 1 – Alaska Public Accountancy Statutes

Learning Objectives

Board of Public Accountancy

Fiscal Year 2017 Goals and Objectives

Notice of Proposed Changes (July 8, 2016)

Frequently Asked Questions

Statutes and Regulations of Public Accountancy

Article 1. Board of Public Accountancy.

Sec. 08.04.005. Purpose.

Sec. 08.04.010. Creation of board.

Sec. 08.04.020. Appointment and qualifications of board.

Sec. 08.04.025. Meetings of board.

Sec. 08.04.030. Removal of members.

Sec. 08.04.040. Vacancy on board.

Sec. 08.04.050. Quorum.

Sec. 08.04.055. Executive secretary of board.

Sec. 08.04.070. Functions of board.

Sec. 08.04.075. Substantial equivalency.

Sec. 08.04.080. Adoption of rules.

Article 2. Certified Public Accountants.

Sec. 08.04.100. Certificate granted.

Sec. 08.04.105. License for individual to practice as a public accountant.

Sec. 08.04.110. Personal requirements.

Sec. 08.04.120. Educational and experience requirements.

Sec. 08.04.130. Examination.

Sec. 08.04.150. Qualifications to take examination.

Sec. 08.04.180. Prior applicants.

Sec. 08.04.190. Examination fee.

Sec. 08.04.195. Reciprocity with other states.

Sec. 08.04.200. Use of title "certified public accountant" by individual.

Sec. 08.04.210. Effect on certificates existing on April 26, 1960.

Sec. 08.04.240. Application of partnerships, limited liability companies, corporations, and other legal entities for permits.

Article 3. Regulation of Accountants.

Sec. 08.04.360. Supervision required.

Sec. 08.04.370. Use of title "certified public accountant" by office of legal entity.

Sec. 08.04.380. Waiver of requirements.

Sec. 08.04.410. Inactive license for person not engaged in practice.

Sec. 08.04.420. Practice privileges.

Sec. 08.04.421. Out-of-state permits and exemptions.

Sec. 08.04.422. Conditions of practice privileges, out-of-state permits, and out-of-state exemptions.

Sec. 08.04.423. Competency requirement after licensing.

Sec. 08.04.425. Continuing education.

Sec. 08.04.426. Quality review.

Sec. 08.04.440. Effect of failure to obtain license or permit.

Sec. 08.04.450. Revocation or suspension of license, practice privilege, permit, or out-of-state exemption.

Sec. 08.04.470. Revocation of permit of partnership, limited liability company, corporation, or other legal entity.

Sec. 08.04.480. Grounds for censure of, or the revocation, suspension, or refusal to renew a permit for, a partnership, limited liability company, corporation, or other legal entity.

Sec. 08.04.490. Reinstatement.

Sec. 08.04.495. Fees.

Article 4. Unlawful Acts and Penalties.

Sec. 08.04.500. Individual posing as a certified public accountant.

Sec. 08.04.505. Issuance of reports.

Sec. 08.04.510. Partnership, limited liability company, corporation, or other legal entity posing as a certified public accountant.

Sec. 08.04.520. Individual posing as public accountant.

Sec. 08.04.530. Partnership, limited liability company, or corporation posing as public accountant.

Sec. 08.04.540. Use of deceptive title or abbreviation.

Sec. 08.04.560. Individual may not assume title.

Sec. 08.04.570. Acts not prohibited.

Sec. 08.04.580. Partnership posing as accountants or auditors.

Sec. 08.04.590. Use of title with corporate name.

Sec. 08.04.595. Use of title with limited liability company name.

Sec. 08.04.598. Use of title with name of other legal entity.

Sec. 08.04.600. Disclosure of lack of license or permit.

Sec. 08.04.610. Deceptive use of title or designation by partnership, limited liability company, corporation, or other legal entity.

Sec. 08.04.620. Exceptions.

Sec. 08.04.630. Injunction against unlawful act.

Sec. 08.04.640. Penalty.

Sec. 08.04.650. Single act evidence of practice.

Article 5. Miscellaneous Provisions.

Sec. 08.04.660. Ownership of accountant’s working papers.

Sec. 08.04.661. Previous licensure.

Sec. 08.04.662. Confidential communications.

Sec. 08.04.670. Construction.

Article 6. General Provisions.

Sec. 08.04.680. Definitions.

Sec. 08.04.690. Short title.

Chapter 1 Review Questions

Chapter 2 – Alaska Public Accountancy Regulations

Learning Objectives

Occupational Licensing Centralized Regulations

12 AAC 02.340. Board of Public Accountancy.

Alaska Public Accountancy Regulations

Article 1. Rules of Professional Conduct.

12 AAC 04.010. Independence, Integrity, and Objectivity.

12 AAC 04.015. Competence.

12 AAC 04.020. Confidential Relationship.

12 AAC 04.030. Contingent Fees.

12 AAC 04.038. Attest Functions.

12 AAC 04.040. Use of Work of Others.

12 AAC 04.050. Responsibility and Disclosure.

12 AAC 04.060. Form of Opinions and Reports.

12 AAC 04.070. Forecasts.

12 AAC 04.080. Advertising.

12 AAC 04.100. Commissions.

12 AAC 04.110. Services Performed by Employees.

Article 2. The Board.

12 AAC 04.130. Meetings.

12 AAC 04.140. Special Meeting.

12 AAC 04.145. Executive Secretary.

Article 3. License and License Renewal Requirements.

12 AAC 04.155. Denial of License.

12 AAC 04.160. References.

12 AAC 04.165. Application for Licensure by Reciprocity.

12 AAC 04.175. Application for Licensure by Examination.

12 AAC 04.180. Documentation of Experience.

12 AAC 04.181. Work Experience Points.

12 AAC 04.183. Attest Function Hours.

12 AAC 04.185. Education Defined for Certified Public Accountant Applicants.

12 AAC 04.187. Education Verified.

12 AAC 04.189. License Renewal.

Article 4. Examination

12 AAC 04.190. Application For Examination.

12 AAC 04.195. Qualification for Examination.

12 AAC 04.200. Examination.

12 AAC 04.205. Examination Transition to Computer-Based Testing.

12 AAC 04.235. Reexamination.

Article 5 Permits and Practice Privileges

12 AAC 04.250. Practice Permits.

12 AAC 04.255. Ownership.

12 AAC 04.280. Applications for Permits and Renewal of Permits.

12 AAC 04.285. Substantial Equivalency.

Article 6. Continuing Education

12 AAC 04.300. Hours of Continuing Education Required.

12 AAC 04.310. Computation of Nonacademic Continuing Education Hours.

12 AAC 04.320. Computation of Academic Continuing Education Hours.

12 AAC 04.330. Challenged Courses.

12 AAC 04.340. Approved Subjects.

12 AAC 04.350. Nonacademic Program Criteria.

12 AAC 04.360. Approved Nonacademic Continuing Education Programs.

12 AAC 04.370. Individual Study.

12 AAC 04.380. Instructor or Discussion Leader.

12 AAC 04.390. Publications.

12 AAC 04.400. Report of Continuing Education.

12 AAC 04.410. “Reasonable Cause or Excusable Neglect” Defined.

12 AAC 04.430. Inactive Licenses.

12 AAC 04.440. Reinstatement of Lapsed License.

Article 7. Disciplinary Guidelines

12 AAC 04.500. Purpose of Disciplinary Guidelines.

12 AAC 04.520. Disciplinary Guidelines.

12 AAC 04.530. Definitions for Disciplinary Guidelines.

Article 8. Quality Review.

12 AAC 04.600. Quality Review Reporting Requirements.

12 AAC 04.610. Approved Quality Review Programs.

12 AAC 04.620. Exceptions to Quality Review Reporting Requirements.

12 AAC 04.630. Special Quality Review Reporting Requirements.

12 AAC 04.690. Definitions Related to Quality Review.

Article 9. General Provisions

12 AAC 04.900. Complaints.

12 AAC 04.920. Current Address.

12 AAC 04.930. Articles Of Incorporation and Articles of Organization.

12 AAC 04.940. Use of Title "Enrolled Agent".

12 AAC 04.990. Definitions.

Additional Information

Transitional Provision.

Board of Accountancy Investigative Process

Complaints

Inquiry and Investigation

Disposition of Cases

Confidentiality

State-Specific CPA Investigations and Board Action

Example 1: Continuing Education Deficiency Resulting in Consent Agreement

Example 2: Continuing Education Deficiency Resulting in Voluntary Surrender

Example 3: Continuing Education Deficiency Resulting in Nondisciplinary Consent Agreement

Example 4: Continuing Education Deficiency Resulting in Consent Agreement

Example 5: Failure to Verify Continuing Education Resulting in License Surrender

Example 6: Unlicensed Practice or Activity Resulting in Consent Agreement

Example 7: Conviction of a Criminal Action Resulting in License Surrender

Example 8: Violation of Licensing Regulation Resulting in License Denial

Example 9: License Application Problem and Unlicensed Practice or Activity Resulting in Application Denial

Example 10: License Application Problem, Negligence, and Falsified Application Resulting in Consent Agreement

Summary

Chapter 2 Review Questions

Review Question Answers and Rationales

 

Appendix A: Outside Ethics Reading

Appendix B: State of Alaska Information Page

Glossary

Index

Final Examination

Answer Sheet

Course Evaluation



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