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

Course Description

Real-World Ethics for California CPAs is designed to meet the ethical requirements of the California State Board of Accountancy. The course presents various ethical theories and their practical applications, making it a useful and hands-on tool you can use to critique the various ethical decisions you face in your practice. We’ll cover contemporary accounting and business ethics, suggested methods for approaching ethical dilemmas, AICPA ethical pronouncements and rulings, and PCAOB guidance. Case studies and examples are interspersed throughout to help illustrate how to handle real-life ethical issues and situations.



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
Aug 15, 2017
There are no prerequisites.
SS4130574
114
None


Compliance Information

103220
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-0594
CTEC Ethics Credit: 4
Qualifies for CA Fraud: No


Learning Objectives

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

Chapter 1

  • Recognize the various definitions of ethics, its primary function in society, and the history of the philosophy of ethics.
  • Identify significant individuals who contributed to the development of ethics, noting their beliefs, teachings, and impact.
  • Specify foundational events in the evolution of business ethics, noting their purpose, characteristics, and impact.

Chapter 2

  • Identify six common ethical standards and the theory of each approach.
  • Recognize the components of the Ethical Orientation Questionnaire and how an individual's responses relate to recognizing and resolving ethical dilemmas.

Chapter 3

  • Recognize the step-by-step process contained in the framework for ethical decision making and the framework for resolving an ethical dilemma.

Chapter 4

  • Recognize the authority that governs a CPA's ethical behavior, the principles that guide the conceptual framework for the AICPA Code of Professional Conduct, and the restructuring that occurred during the AICPA Ethics Codification project.
  • Identify terminology, ethical standards, and rules contained in the AICPA Code of Professional Conduct, noting implementation requirements.
  • Recognize the application of authoritative and nonauthoritative guidance in helping the accounting professional avoid common mistakes as illustrated in the provided case studies.
  • Specify the guidelines and restrictions established by the Public Companies Accounting Oversight Board for registered public accounting firms auditing SEC filers.

Chapter 5

  • Identify reputable sources for referencing additional ethical practice material, including the AICPA's newsletter issued by the Professional Ethics Executive Committee.
  • Recognize the role of the Professional Ethics Division in investigating disciplinary matters involving AICPA members and members of state societies participating in the Joint Ethics Enforcement Program.


Table of Contents

Chapter 1 – An Overview of Ethics

Learning Objectives

A Nation of Cheaters

What is Ethics?

Summary

Chapter 1 Review Questions

Chapter 2 – Major Theories of Ethics

Learning Objectives

Why Identifying Ethical Standards is Difficult

The Egoism Approach

The Utilitarian Approach

The Rights Approach

The Fairness or Justice Approach

The Common Good Approach

The Virtue Approach

Ethical Orientation Questionnaire

Ethic of Justice

Ethic of Care

Moral Stages of Reasoning

Level 1—Pre-Conventional

Level 2—Conventional

Level 3—Post-Conventional

Summary

Chapter 2 Review Questions

Chapter 3 – Suggested Methods for Approaching Ethical Dilemmas

Learning Objectives

A Framework for Ethical Decision Making

Recognize an Ethical Issue

Get the Facts

Make a Decision and Test It

Act, Then Reflect on the Decision Later

Resolving an Ethical Dilemma

Step 1: Analyze the Consequences

Step 2: Analyze the Actions

Step 3: Make a Decision

Summary

Chapter 3 Review Questions

Chapter 4 – AICPA Ethical Pronouncements and Rulings and PCAOB Guidance

Learning Objectives

The AICPA Code of Professional Conduct

AICPA Ethics Codification Project

Restructuring the Code

Conceptual Frameworks

The Code of Professional Conduct

Preface: Applicable to All Members

0.100 Overview of the Code of Professional Conduct

0.200 Structure and Application of the AICPA Code

0.300 Principles of Professional Conduct

0.500 Nonauthoritative Guidance

0.600 New, Revised, and Pending Interpretations and Other Guidance

Part 1: Members in Public Practice and Part 2: Members in Business

x.000 Introduction

x.100 Integrity and Objectivity

x.110 Conflicts of Interest

x.120 Gifts and Entertainment

x.130 Preparing and Reporting Information

x.300 General Standards

x.310 Compliance with Standards

x.320 Accounting Principles

x.400 Acts Discreditable

The Remainder of the Code of Professional Conduct

Five Cases Related to the Code

Ethics Case Study 1: The Last Shot at the Buzzer...Too Late! The Case of the Losing Lady

Ethics Case Study 2: Do You Have What It Takes? The Case of the Inadequate Accountant

Ethics Case Study 3: Give It Back! The Case of Empty Promises

Ethics Case Study 4: Oops! The Case of the Harmless Mistakes

Ethics Case Study 5: Stop Thief! The Case of the Almost Stolen Clients

Case Suggested Solutions

The PCAOB and Ethics Guidelines

Summary

Chapter 4 Review Questions

Chapter 5 – Sources of Other AICPA Ethics Guidance

Learning Objectives

AICPA’s Professional Ethics Executive Committee

Ethics Enforcement

AICPA Publications

Ethics Hotline

AICPA Ethics Tools and Aids

Summary

Chapter 5 Review Questions

Review Question Answers and Rationales

Appendix A: Outside Ethics Reading

Appendix B: State of California Information Page

Appendix C: California Rules of Professional Conduct

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.

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