Real-World Ethics for Kansas CPAs is designed to meet the ethical requirements of the Kansas State Board of Accountancy. The course presents various ethical theories and their practical applications, making it a useful, hands-on tool you can use to critique the various ethical decisions you face in your practice. 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, case studies illustrate how to handle real-life ethical issues and situations.
Upon successful completion of this course, participants will be able to:
- Recognize the step-by-step process contained in the framework for ethical decision making and the framework for resolving an ethical dilemma.
- 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.
- 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
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
Chapter 1 Review Questions
Chapter 2 – AICPA Ethical Pronouncements and Rulings and PCAOB Guidance
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
0.700 Deleted Interpretations and Other Guidance
Part 1: Members in Public Practice and Part 2: Members in Business
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
Case Suggested Solutions
The PCAOB and Ethics Guidelines
Chapter 2 Review Questions
Chapter 3 – Sources of Other AICPA Ethics Guidance
AICPA’s Professional Ethics Executive Committee
Chapter 3 Review Questions
Review Question Answers and Rationales
Appendix A: Outside Ethics Reading
Appendix B: State of Kansas Information Page
Appendix C: Kansas Code of Professional Conduct
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