Are You Independent (Course Id 1982)

• Who is this course for?
  This 1‑credit NASBA QAS self‑study text course is designed for CPAs in public practice who need to understand and apply AICPA independence rules—especially those responsible for attest and audit engagements.

• What is this course about or what problem does this course solve?
  It covers independence guidance under the AICPA Code of Professional Conduct—focusing on threats to independence, the conceptual framework approach, and how to assess and address situations that may impair independence.

• How can the knowledge from this course be used?
  Learners will apply the AICPA’s conceptual framework to identify audit independence threats (such as adverse interest, self-interest, familiarity, management participation, self-review, undue influence, advocacy), evaluate their significance, and implement safeguards or make decisions to decline services appropriately.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Auditor independence is essential to maintain trust and objectivity in audits. Understanding these rules—including SEC Rule 2‑01 prohibitions on non-audit services—reduces risk of ethical violations, audit committee scrutiny, and disciplinary action.

• When is this course relevant or timely?
  Independence rules are evergreen—and frequently updated. This course, last revised March 2024, aligns with both AICPA updates to the conceptual framework and SEC independence requirements under Regulation S‑X Rule 2‑01 issued under Sarbanes‑Oxley.

• How is a course like this consumed or used?
  Delivered as a NASBA‑approved text self‑study course, it includes review and final exam questions. Learners must pass with at least 70% within one year of purchase via the provider’s platform to earn the 1 CPE credit.

This course provides an overview of the independence related rules and interpretations included within the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct.  This Code prescribes a set of principles, rules, and interpretations that guide CPAs in performing their professional responsibilities.  While this code is applicable to both members in business and members in practice, this course focuses on the independence aspects for those members in public practice.  A copy of the most recent AICPA Code of Professional Conduct is available on the AICPA website. 

NASBA QAS - Text - NASBA Registry - 1982

Course Learning Objectives

• Identify the different sections of the AICPA Code of Professional Conduct
• Recognize the key steps included within the conceptual framework approach
• Differentiate among threats for members in public practice and recognize examples of threats to independence
• Recognize activities that would and would not impair independence

Chapter 1 - Are You Independent?

Course Learning Objectives

Course Overview

Introduction to the AICPA Code

Applying the Conceptual Framework Approach

Independence

Conceptual Framework Approach for Independence

Adverse Interest Threat

Advocacy Threat

Familiarity Threat

Review Questions

Management Participation Threat

Self-Interest Threat

Self-Review Threat

Undue Influence Threat

Conclusion

Review Questions

Glossary