Real-World Ethics for Mississippi CPAs is designed to meet the ethical requirements of the Mississippi Board of Accountancy. The course covers state-specific information regarding the practice of public accountancy as set forth in the Rules and Regulations, including situations that can impair independence, circumstances that can affect objectivity and integrity, and activities that can violate the rules for solicitation, advertising, and public communication. In addition, the materials cover contemporary accounting and business ethics, suggested methods for approaching ethical dilemmas, AICPA ethical pronouncements and rulings, and PCAOB guidance. This course presents 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.
Approved by the Mississippi State Board of Public Accountancy on June 2, 2017.
Upon successful completion of this course, participants will be able to:
- 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
- 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
- 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
- Recognize the rules and regulations governing the practice of public accountancy set forth by the Mississippi State Board of Accountancy
- Identify situations and circumstances that affect independence, integrity, and objectivity of a CPA or CPA firm
- Identify who qualifies as a close relative in Mississippi
- Identify an activity that violates solicitation, advertising, and public communication rules
- State the reason for rules restricting commissions
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