Alaska: Ethics for Alaska CPAs (Course Id 1976)

This 4-hour Alaska CPA CPE course is designed to meet the 4-hour ethics continuing education requirement for Alaska CPAs.  It provides an overview of ethical thought along with the core values of the CPA profession and the application of these values to ethical reasoning.  Selected Alaska Board of Public Accountancy regulations contained in 12 AAC 04 and statutes contained in AS 08 04 are covered in detail.  The AICPA Code of Professional Conduct is also covered in detail.  Case studies are utilized throughout this ethics continuing education course to emphasize subject matter.

NASBA QAS - Text - NASBA Registry - 1976

Course Learning Objectives

• Define ethics from an overall and professional perspective
• Recognize the rules contained in the Alaska Board of Public Accountancy regulations and statutes
• Recognize the ethical standards contained in the AICPA Code of Professional Conduct

Chapter 1 - Ethics for Alaska CPAs

Ethics Background

Morals

What is Ethics?

The Relationship of Morals and Ethics

Illustrative Examples of Ethics

Professional Ethics

Legal versus Ethical

Why Should We Study Professional Ethics?

Accounting Ethics

Ethical Core Foundations for CPAs

Review Question

Ethical Reasoning

Case Studies – Threats and Safeguards

Ethical Dilemmas

Public Expectations of the CPA’s Responsibility

Enron and Arthur Andersen

Bernard Madoff Investment Securities LLC – Failures in Expressing an Opinion on Financial Statements

Motivations of Ethical Lapses

Review Question

Recent Changes to the Regulations of the Board of Public Accountancy

Alaska Administrative Code, 12 AAC 04 – Board of Public Accountancy Regulations

Alaska Statutes, AS 08 04, - Board of Public Accountancy Statutes

Case Studies

Board Complaint

Inactive CPA

Contingent fees

Return of client provided records

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 Questions

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

Case Study – Fair Finance

2.300.001 — General standards rule

2.310.001—Compliance with standards rule

2.320.001—Accounting principles rule

Case Study - The Company with Excess Reserves

Case Study - The Company with Undisclosed/Unrecorded Contingencies

2.400.001 Acts Discreditable Rule

2.400.070 Confidential Information from employment or volunteer activities

Part 3 – Other Members

3.400.001 - Acts discreditable rule

3.400.070 Confidential Information from employment or volunteer activities

Glossary