Regulatory Ethics
There are no prerequisites.

Course Description

Designed to meet the ethical requirements of the Washington State Board of Accountancy, Real-World Ethics for Washington CPAs: 2017 covers important state-specific information regarding the Washington State Board of Accountancy rules of conduct, recent board changes, and applicable provisions found in the Public Accountancy Act. In addition, you'll learn about contemporary accounting and business ethics, suggested methods for approaching ethical dilemmas, AICPA ethical pronouncements and rulings, and PCAOB guidance. This course presents various ethical theories and their practical applications, making it a useful and hands-on tool you can use to critique the various ethical decisions you face in your practice. As an added bonus, case studies illustrate how to handle real-life ethical issues and situations.

Approved by the Washington State Board of Accountancy as meeting the minimum requirements of WAC 4-30-134(6) which requires four CPE hours in the subject area of professional ethics and regulations with specific application to the practice of public accounting in Washington State. Approval date: October 7, 2016


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 19, 2016
There are no prerequisites.

Compliance Information

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 as set forth by the Washington State Board of Accountancy, identifying ethics and prohibited practices, CPA examination requirements, individual experience and verification, CPA firm organization and ownership, continuing competency, and investigations, discipline, and enforcement
  • Specify provisions contained in the Public Accountancy Act
  • Cite applicable observations, notes, case studies, and enforcements actions regarding the state of Washington accountancy rules and the Public Accountancy Act

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


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

The PCAOB and Ethics Guidelines


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


Chapter 3 Review Questions

Chapter 4 – Washington State-Specific Ethics

Learning Objectives

Regulatory Changes

July 29, 2016 Rules Hearing

April 19, 2016 Rules Hearing

Board Rules

Board Administration

WAC 4-30-020

What are the authority for and the purpose of the board's rules?

WAC 4-30-026

How can I contact the board?

WAC 4-30-032

Do I need to notify the board if I change my address?

WAC 4-30-034

Must I respond to inquiries from the board?

WAC 4-30-036

What enforcement actions must be reported to the board?

Ethics and Prohibited Practices

WAC 4-30-040

What are the requirements concerning integrity and objectivity?

WAC 4-30-042

When is independence required?

WAC 4-30-044

What restrictions govern commissions, referral, and contingent fees?

WAC 4-30-046

What are the requirements concerning competence?

WAC 4-30-048

Compliance is required with which rules, regulations and professional standards?

WAC 4-30-050

What are the requirements concerning records and clients confidential information?

WAC 4-30-051

What are the requirements concerning client records, including response to requests by clients and former clients for records?

WAC 4-30-052

What acts are considered discreditable?

WAC 4-30-054

What are the limitations on advertising and other forms of solicitation?

WAC 4-30-056

What are the limitations regarding individual and firm names?

WAC 4-30-058

Does the board authorize the use of any other titles or designations?

Continuing Competency

WAC 4-30-130

What are the quality assurance review (QAR) requirements for licensed CPA firms?

WAC 4-30-132

What are the program standards for CPE?

WAC 4-30-134 (Effective Jan. 1, 2014)

What are the continuing professional education (CPE) requirements for individuals?

WAC 4-30-136

How do I report my CPE to the board?

WAC 4-30-138

What documentation must I retain to support my eligibility for CPE credits?

Investigations, Discipline, and Enforcement

WAC 4-30-140

What are the authority, structure, and processes for investigations and sanctions?

WAC 4-30-142

What are the bases for the board to impose discipline?

Public Accountancy Act

RCW 18.04.105

Issuance of license — Requirements — Examination — Fees — Certified public accountants' account — Valid certificates previously issued under chapter — Continuing professional education — Inactive certificates.

RCW 18.04.180


RCW 18.04.195

License required — Requirements — Application — Fees.

RCW 18.04.205

Registration of offices — Requirements — Rules — Fees.

RCW 18.04.215

Licenses – Issuance – Renewal and reinstatement – Continuing professional education – Fees – Notification of sanction/suspension/revocation of license.

RCW 18.04.295

Actions against CPA license.

RCW 18.04.345

Prohibited practices

Chapter 4 Review Questions

Review Question Answers and Rationales

Appendix A – Outside Ethics Reading

Appendix B – State of Washington Contact Information Page

Appendix C – Five Cases Related to the AICPA Code of Professional Conduct



Qualified Assessment

Answer Sheet

Course Evaluation

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