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

Course Description

Real-World Ethics for Delaware CPAs is designed to meet the ethical requirements of the Delaware Board of Accountancy. The materials provide an in-depth look at Chapter 1 of the Delaware Code, the rules and regulations pertaining to the practice of accountancy as contained in the Delaware Administrative Code, and any applicable statutory or rule changes. The course also provides an overview of AICPA ethical pronouncements and rulings and PCAOB guidance. In addition, the course presents valuable state-specific case studies to help illustrate how to handle real-life ethical issues and situations.

Approved by the Delaware Board of Accountancy on February 17, 2016.



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
Jun 14, 2017
There are no prerequisites.
SS4150577
108
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

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

Chapter 1

  • 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 2 

  • Recognize the objective and functions of the Delaware Board of Accountancy, noting statutory powers and duties.
  • Define applicable terms.
  • Recognize the statutory requirements for permits to practice in the state of Delaware, specifically for certificate and CPAs, public accountancy, reciprocity, firms, and renewals.
  • Recognize the Board's authority to impose disciplinary sanctions and the procedures for hearings when a complaint is filed.
  • Note the requirements for substantial equivalency.

Chapter 3 

  • Recognize the requirements to obtain a certificate and CPA permit to practice in the state of Delaware.
  • Note the requirements to obtain a public accountancy permit to practice, a firm permit to practice, and a reciprocity permit to practice.
  • Cite the requirements to renew a permit to practice, noting continuing professional education requirements and what constitutes acceptable CPE.
  • Identify the proper use of designations and titles, the process and procedures for disciplinary proceedings, and treatment options for impaired professionals.


Table of Contents

Chapter 1 – AICPA Ethical Pronouncements and Rulings and PCAOB Guidance

Learning Objectives

Introduction

The AICPA Code of Professional Conduct

AICPA Ethics Codification Project

Restructuring the Code

Conceptual Frameworks

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

0.700 Deleted 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

The PCAOB and Ethics Guidelines

Summary

Chapter 1 Review Questions

Chapter 2 – Delaware Board of Accountancy Statutory Authority

Learning Objectives

Introduction

The Delaware Code

Title 24 – Professions and Occupations

Chapter 1. Board of Accountancy

§101 Objectives and functions.

§102 Definitions.

§103 Board of Accountancy; appointments; qualifications; term; vacancies.

§104 Officers; meetings; conduct of business; quorum; absences.

§105 Powers and duties.

§106 Certificate or permit required.

§107 Certificate and permit requirements for certified public accountancy.

§108 Substantial equivalency.

§109 Reciprocity.

§110 Requirements for permits to practice public accountancy.

§111 Requirements for permits to practice by firms.

§112 Professional responsibilities.

§113 Examinations.

§114 Waiver of examination.

§115 Prohibited acts; limitation of services.

§116 Complaints.

§117 Grounds for discipline.

§118 Disciplinary sanctions.

§119 Board hearings; procedures.

§120 Ownership of working papers.

§121 Violations; penalties.

§122 Status of existing certificates preserved.

§123 Status of existing public accountants preserved.

§124 Renewals.

§§ 125 , 126. [Reserved.]

§127 Permitted titles and safe harbor language.

Chapter 2 Review Questions

Chapter 3 – Delaware Board of Accountancy Rules & Regulations

Learning Objectives

Introduction

Delaware Administrative Code

Title 24: Regulated Professions and Occupations

100 Board of Accountancy

1.0    General Provisions

2.0    Professional Conduct

3.0    Applications

4.0    Requirements for a Certificate and Permit to Practice Certified Public Accountancy

5.0    Experience Requirements for Permit to Practice Certified Public Accountancy

6.0    Requirements for Permit to Practice Public Accountancy

7.0    Certificate Holders

8.0    Use of Designations

9.0    Reciprocity

10.0      Firm Permits to Practice

11.0      Continuing Education

12.0      Additional Provisions Concerning Examinations

13.0      Excepted Practices; Working Papers

14.0      Hearings

15.0      Voluntary Treatment Option for Chemically Dependent or Impaired Professionals

16.0      Crimes Substantially Related to the Practice of Accountancy:

Statutory or Rule and Regulation Changes

Statutory Authority: 24 Delaware Code, Section 105(a)(1) (24 Del.C. §105(a)(1))

24 DE Admin. Code 100

Delaware Case Studies

Case Study #1

Case Study #2

Case Study #3

Case Study #4

Case Study #5

Case Study #6

Chapter 3 Review Questions

Review Question Answers and Rationales

Appendix A: Outside Ethics Reading

Appendix B: State of Delaware Information Page

Glossary

Index

Final Examination

Answer Sheet

Course Evaluation



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