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

Course Description

Real-World Ethics for Idaho CPAs is designed to meet the ethical requirements of the Idaho State Board of Accountancy, covering important issues such as licensure and practice privileges, rules of professional conduct, commissions and fees, confidentiality, recordkeeping, and continuing education. In addition, the materials cover contemporary accounting and business ethics, suggested methods for approaching ethical dilemmas, AICPA ethical pronouncements and rulings, and PCAOB guidance. As an added bonus, this course presents various ethical theories and their practical applications along with case studies that illustrate how to handle real-life ethical issues and situations, making it a useful and hands-on tool you can use to critique the various ethical decisions you face in your practice.



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
Sep 7, 2016
There are no prerequisites.
SS4130581
113
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 step-by-step process contained in the framework for ethical decision making and the framework for resolving an ethical dilemma.

Chapter 2

  • 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 3

  • 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.

Chapter 4

  • Recognize the rules and regulations governing the practice of accountancy as set forth by the Idaho State Board of Accountancy.



Table of Contents

Chapter 1 – 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 1 Review Questions

Chapter 2 – AICPA Ethical Pronouncements and Rulings and PCAOB Guidance

Learning Objectives

The AICPA Code of Professional Conduct

AICPA Ethics Codification Project

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

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

The PCAOB and Ethics Guidelines

Summary

Chapter 2 Review Questions

Chapter 3 – 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 3 Review Questions

Chapter 4 – Idaho State-Specific Ethics

Learning Objectives

Idaho Board of Accountancy Rules

Subchapter A – Administration

001.    Title and Scope (Rule 001).

002.    Written Interpretations (Rule 002).

003.    Administrative Appeals (Rule 003).

004.    Incorporation by Reference (Rule 004).

006.    Public Records (Rule 006).

011.    Filing of Documents with the Board – Electronic Signature (Rule 011).

012.    Board Responsibilities (Rule 012).

015.    Meetings—Quorum (Rule 015).

016.    Duties of the Executive Director (Rule 016).

017.    Conferring With Board Members (Rule 017).

018.    Compliance with These Rules (Rule 018).

019.    Computation of Time (Rule 019).

020.    Good Moral Character (Rule 020).

Subchapter B – CPA Examination

100.    CPA Examination (Rule 100).

101.    Applications – Authorization to Test and Notification to Schedule – Time and Place – Change of Address (Rule 101).

102.    Failure to Appear (Rule 102).

103.    Compliance with the Americans with Disabilities Act (Rule 103).

104.    Examination Content (Rule 104).

105.    Evidence of Educational Qualifications (Rule 105).

106.    Determining and Reporting Examination Grades (Rule 106).

107.    Passing Grades (Rule 107).

108.    Retake and Granting of Credit (Rule 108).

109.    Transfer of Credit, CPA Examination (Rule 109).

110.    Cheating (Rule 110).

111.    Security And Irregularities (Rule 111).

Subchapter C – Experience

200.    General Requirement (Rule 200).

201.    Experience (Rule 201).

202.    Application (Rule 202).

203.    Verification (Rule 203).

204.    Relevant Time Period (Rule 204).

205.    Attest Service Experience (Rule 205).

206.    Certified True Statement (Rule 206).

Subchapter D – Licensure and Practice Privileges

300.    Requirements for Initial Certified Public Accountant Licensure (Rule 300).

301.    Annual License Renewal and Late Fee (Rule 301).

302.    Notification of Change of Address, Felony Charges, or Actions Taken (Rule 302).

303.    Practice Privileges (Rule 303).

304.    Reciprocal Licensure (Rule 304).

Subchapter E – Rules of Professional Conduct

400.    Applicability of Rules (Rule 400).

401.    Commissions and Contingent Fees (Rule 401).

402.    Confidential Client Information (Rule 402).

403.    Records (Rule 403).

404.    Discreditable Acts (Rule 404).

405.    Acting through Others (Rule 405).

406.        Firm Names (Rule 406).

407.    Communications (Rule 407).

Subchapter F – Continuing Professional Education

500.    Basic Requirements (Rule 500).

501.    Who Must Comply (Rule 501).

502.    Exceptions, Extensions, And Exemptions (Rule 502).

503.    Program Requirements (Rule 503).

504.    Responsibility to Establish Qualifications of Programs and Subject Matter (Rule 504).

505.    Continuing Professional Education Committee (Rule 505).

506.    Reporting, Controls and Late Fees (Rule 506).

507.    Review and Audit of CPE Reports (Rule 507).

508.    Notification (Rule 508).

509.    Action (Rule 509).

510.    New Licensees, Reciprocity, Reinstatement and Re-Entry (Rule 510).

Subchapter G – Firm Registration and Peer Review

600.    Purpose of Firm Registration and Peer Review (Rule 600).

601.    Issuance of Reports and Form of Practice (Rule 601).

602.    Peer Review Program Participation (Rule 602).

603.    Exemption from Participation (Rule 603).

604.    Scheduling of the Peer Review (Rule 604).

605.    Minimum Standards (Rule 605).

606.    Reporting to the Board (Rule 606).

607.    Administering Organizations (Rule 607).

608.    Fee for Approval of Administering Organizations (Rule 608).

609.    Oversight (Rule 609).

611.    Oversight Committee Procedures for Monitoring Administering Organizations (Rule 611).

613.    Oversight Committee Procedures for Administering Organizations (Rule 613).

614.    Retention of Documents Relating to Peer Reviews (Rule 614).

615.    Program Costs and Fees (Rule 615).

616.    Confidentiality (Rule 616).

617.    Penalty for Failure to Comply (Rule 617).

Subchapter H – Fees and Fines

700.    Examination Fees (Rule 700).

702.    Other Fees (Rule 702).

703.    Late Fees And Fines (Rule 703).

Chapter 4 Review Questions

Review Question Answers and Rationales

Appendix A: Outside Ethics Reading

Appendix B: State of Idaho Information Page

Glossary

Index

Final Examination

Answer Sheet

Course Evaluation



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