Missouri: Professional Ethics for Missouri CPAs - v13 (Course Id 1611)

Regulatory Ethics - Regulatory Ethics for Course Id 1611

This 2-hour course is designed to meet the 2-hour professional ethics CPE requirement for Missouri CPAs.  It provides an overview of ethical thought along with the core values of the CPA profession.  Selected statutes of the Missouri Accountancy Act and applicable rules promulgated under the Missouri State Board of Accountancy Regulations found in Title 20, Division 2010, Chapters 3 - 4 of the Missouri Code of State Regulations are covered in detail.  The AICPA Code of Professional Conduct is also covered in detail.  Case studies are utilized throughout the course to emphasize subject matter.  

NASBA QAS - Text - NASBA Registry - 1611

Course Learning Objectives

• Define ethics from an overall and professional perspective
• Recognize the ethical standards contained in the Missouri Accountancy Act and the Missouri State Board of Accountancy rules
• Recognize the ethical standards contained in the AICPA Code of Professional Conduct

Chapter 1 - Professional Ethics for Missouri CPAs

Ethics Background

Morals

What is Ethics?

The Relationship of Morals and Ethics

Professional Ethics

Legal versus Ethical

Why Should We Study Professional Ethics?

Accounting Ethics

Ethical Core Foundations for CPAs

Review Question

Amendment 3 - Marijuana Legalization Initiative

Missouri Revised Statutes Chapter 326 – Missouri Accountancy Act

Selected Statutes

Issuance of reports on financial statements, license required--use of CPA or CA title, when--violations, penalty

Division 2010—Missouri State Board of Accountancy Chapter 3—Professional Ethics— Rules of Conduct

20 CSR 2010-3.010 General Purpose of Ethics Rules

20 CSR 2010-3.060 Other Responsibilities and Practices

Division 2010—Missouri State Board of Accountancy Chapter 4—Continuing Education Requirements

20 CSR 2010-4.010 Effective Dates and Basic Requirements

20 CSR 2010-4.020 Qualifying Programs

20 CSR 2010-4.031 Continuing Professional Education (CPE) Documentation

20 CSR 2010-4.035 Inactive Licenses

20 CSR 2010-4.041 Continuing Professional Education (CPE) Exceptions and Waivers

Case Studies

A Little Extra Income – Contingent Fees

Audit Experts - Competence and Advertising

Board Complaint

Review Questions

The AICPA Code of Professional Conduct

About the Code

Preface

Part 1 – Members in Public Practice

Rule 1.100 Integrity and Objectivity

Case Study – Married Tax Clients Divorcing

1.130 Preparing and Reporting Information

1.180 – Responding to Noncompliance with Laws and Regulations

Case Study – Year End Adjustments and Loan Covenants

1.200 - Independence

Review Question

Rule 1.300—General Standards Rule

Case Study – Audit Engagement with No Prior Experience

1.310 Compliance with Standards Rule

Case Study – Peer Review Discoveries

1.320 Accounting Principles Rule

1.400.001 Acts Discreditable Rule

1.510.001 — Contingent Fees Rule

1.520.001—Commissions and referral fees Rule

1.600.001 —Advertising and other forms of solicitation

1.700.001— Confidential client information rule

1.800.001—Form of organization and name rule

Review Questions

Part 2 – Members in Business

2.100.001 – Integrity and Objectivity Rule

2.130.030 Obligation of a Member to His or Her Employer’s External Accountant

2.170.010 – Pressure to Breach the Rules

2.180.010 Responding to Noncompliance With Laws and Regulations

2.300.001 — General standards rule

2.310.001—Compliance with standards rule

2.320.001—Accounting principles rule

2.400.001 Acts Discreditable Rule

Part 3 – Other Members

3.400.001 - Acts discreditable rule

Glossary