Real-World Ethics for North Carolina CPAs is designed to meet the ethical requirements set forth by the North Carolina Board of Certified Public Accountant Examiners, covering important issues pertaining to certification, registration, administration, discipline, and enforcement of the Rules of Professional Ethics. In addition, the materials cover applicable sections of Chapter 93 of the North Carolina General Statutes, which provide guidance that may be useful in the practice of accountancy. Illustrative examples and useful commentary emphasize the importance of regulations and their effect on CPAs in North Carolina.
Upon successful completion of this course, participants will be able to:
- Recognize general provisions and accountancy rules set forth by the North Carolina Board of Certified Public Accountant Examiners and applicable statutes pertaining to ethical conduct as contained in the North Carolina General Statutes
Table of Contents
Real-World Ethics for North Carolina CPAs
The North Carolina Board of Certified Public Accountant Examiners
Conduct and Ethics
North Carolina Administrative Code
Title 21 – Occupational Licensing Boards and Commissions
Chapter 08 – Certified Public Accountant Examiners
08A Section .0300 – Definitions
21 NCAC 08A .0307 Practice of Accountancy or Accounting
21 NCAC 08A .0308 Holding Out to the Public
08H Section .0100 – Requirements
21 NCAC 08H .0101 Reciprocal Certificates
21 NCAC 08H .0102 Temporary Permit
21 NCAC 08H .0104 Notice to Board of Discipline by Other Agency
08I Section .0100 – General Provisions
21 NCAC 08I .0101 Disciplinary Action
21 NCAC 08I .0102 Procedure When Petition against Board Member or Employee
21 NCAC 08I .0104 Modification of Discipline
21 NCAC 08I .0105 Revocation of Certificates
08N Section .0100 – Scope and Applicability
21 NCAC 08N .0101 Scope of these Rules
21 NCAC 08N .0102 Applicability and Organization of Rules
21 NCAC 08N .0103 Responsibility for Compliance by Others
Section .0200 – Rules Applicable to All CPAs
21 NCAC 08N .0201 Integrity
21 NCAC 08N .0202 Deceptive Conduct Prohibited
21 NCAC 08N .0203 Discreditable Conduct Prohibited
21 NCAC 08N .0204 Discipline by Federal and State Authorities
21 NCAC 08N .0205 Confidentiality
21 NCAC 08N .0206 Cooperation with Board Inquiry
21 NCAC 08N .0207 Violation of Tax Laws
21 NCAC 08N .0208 Reporting Convictions, Judgments, and Disciplinary Actions
21 NCAC 08N .0209 Accounting Principles
21 NCAC 08N .0211 Responsibilities in Tax Practice
21 NCAC 08N .0212 Competence
21 NCAC 08N .0213 Other Rules
21 NCAC 08N .0214 Outsourcing to Third-Party Service Providers
21 NCAC 08N .0215 International Financial Accounting Standards
Section .0300 – Rules Applicable to all CPAs Who Use the CPA Title in Offering or Rendering Products or Services to Clients
21 NCAC 08N .0301 Professional Judgment
21 NCAC 08N .0302 Forms of Practice
21 NCAC 08N .0303 Objectivity and Conflicts of Interest
21 NCAC 08N .0304 Consulting Services Standards
21 NCAC 08N .0305 Retention of Client Records
21 NCAC 08N .0306 Advertising or Others Forms of Solicitation
21 NCAC 08N .0307 CPA Firm Names
21 NCAC 08N .0308 Valuation Services Standards
Section .0400 – Rules Applicable to CPAs Performing Attest Services
21 NCAC 08N .0401 Public Reliance
21 NCAC 08N .0402 Independence
21 NCAC 08N .0403 Auditing Standards
21 NCAC 08N .0404 Accounting and Review Services Standards
21 NCAC 08N .0405 Governmental Accounting Standards
21 NCAC 08N .0406 Attestation Standards
21 NCAC 08N .0408 Peer Review Standards
21 NCAC 08N .0409 Government Auditing Standards
North Carolina General Statutes
NCGS Chapter 93 – Certified Public Accountants
Sec. 93-1. Definitions; practice of law.
Sec. 93-2. Qualifications.
Sec. 93-3. Unlawful use of title “certified public accountant” by individual.
Sec. 93-4. Use of title by firm.
Sec. 93-5. Use of title by corporation.
Sec. 93-6. Practice as accountants permitted; use of misleading titles prohibited.
Sec. 93-8. Public practice of accounting by corporations prohibited.
Sec. 93-9. Assistants need not be certified.
Sec. 93-10. Practice privileges.
Sec. 93-11. Not applicable to officers of State, county or municipality.
Sec. 93-12. Board of Certified Public Accountant Examiners.
Sec. 93-12.1. Effect of new requirements.
Sec. 93-12.2. Board records are confidential.
Sec. 93-13. Violation of chapter; penalty.
Review Question Answers and Rationales
Appendix - State of North Carolina Information Page
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