Colorado: Ethics for Colorado - v15 (Course Id 2664)

• Who is this course for?
  This course is intended for active Colorado CPAs renewing their licenses and anyone needing Continuing Professional Education (CPE).

• What is this course about or what problem does this course solve?
  This course addresses the need for ethical competency among CPAs by providing a thorough understanding of ethical standards, rules of conduct, and Colorado-specific regulations essential for maintaining public trust and professional responsibility.

• How can the knowledge from this course be used?
  The knowledge gained from this course can be applied to recognize ethical issues, use ethical reasoning, comply with the AICPA Code of Professional Conduct, and follow Colorado Statutes and Rules in daily accounting practice.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  This course is crucial for CPAs to fulfill state-mandated ethics CPE requirements, ensure professional integrity, and avoid ethical violations that could lead to disciplinary action.

• When is this course relevant or timely?
  This course is particularly relevant during license renewal periods for Colorado CPAs, as it satisfies the ethics CPE requirement for active licensees (but not for new or reactivating CPAs).

• How is a course like this consumed or used?
  The course is delivered via QAS self-study, requiring participants to read course material, complete review questions, and pass a final exam with a score of 70% or higher within one year of purchase to earn CPE credit.

Individuals in the accounting profession have a considerable responsibility to the general public. Ethical behavior is essential for fulfilling this duty and maintaining public trust. Thus, adhering to ethical standards is both a professional obligation and a legal requirement. This course is designed to meet the ethics requirements for active Colorado CPAs renewing their licenses.

The course begins with a presentation of ethics and ethical behavior, explaining the concept of ethics, identifying the causes of unethical behavior, and examining the process of ethical reasoning. It covers specific rules governing professional conduct, including the AICPA Code of Professional Conduct, along with the conceptual framework approach to coping with ethical dilemmas, and a review of key provisions of Colorado Statutes and Rules governing the practice of public accountancy. Numerous examples are included to help you have a good understanding of ethical standards and apply ethical judgment in interpreting the rules.

This course does not fulfill the Colorado Rules and Regulations (CR&R) course requirements for new or reactivating CPAs.

NASBA QAS - Text - NASBA Registry - 2664

Course Learning Objectives

1. Recognize ethical reasoning used by accountants
2. Recognize the core principles within the AICPA Code of Professional Conduct
3. Identify the steps within the conceptual framework approach
4. Recognize independence and objectivity issues
5. Identify ethical standards and violations
6. Identify the Colorado Statutes and Rules governing the practice of public accounting

Chapter 1:   Ethics and Ethical Behavior

Ethics Concepts

Morals and Ethics

Causes of Unethical Behavior

Reasoning and Dilemmas

Approaches to Ethical Behavior

Corporate Ethical Development Model

Chapter 1 Review Questions

Chapter 2:   AICPA Code of Professional Conduct

Applicability and Structure

Fundamental Principles

Ethical Decision-Making Framework

Conceptual Framework Approach

Conceptual  Framework Toolkit

Rules for Members in Public Practice

Integrity and Objectivity Rule

Conflicts of Interest

Gifts and Entertainment

Preparing and Reporting Information

Client Advocacy

Use of a Third-Party Service Provider

Responding to Noncompliance with Laws and Regulations

Chapter 2 Review Questions - Section 1

Independence

Conceptual Framework Approach

Unpaid Fees

Financial Interests

Loans and Leases

Business Relationships

Family Relationships

Current Employment or Association with an Attest Client

Actual or Threatened Litigation

Nonattest Services

Breach of an Independence Interpretation

General Standards

Compliance with Standards

Accounting Principle

Acts Discreditable

Fees and Other Types of Remuneration

Contingent Fees

Commissions and Referral Fees

Advertising and Other Forms of Solicitation

False, Misleading, or Deceptive Act

Use of the CPA Credential

Confidential Information

Form of Organization and Name Rule

Partner Designation

Firm Name

Rules for Members in Business

Chapter 2 Review Questions - Section 2

Chapter 3:   Colorado Rules and Regulations

Practice of Public Accounting

Use of Designation

Unlawful Acts

Status and Maintenance

Continuing Professional Education

Offering Services Via the Internet

Disclosure

Peer Review

Firm Names

Accountant-Client Privilege

Rules of Professional Conduct

Independence

Integrity and Objectivity

Commissions, Referral Fees, and Contingent Fees

Competence and Compliance with Professional Standards

Confidential Client and Employer Information

Client Records

Solicitation

Grounds for Disciplinary Action

Chapter 3 Review Questions

Appendix A: Threats to Independence

Appendix B: Management Responsibilities

Glossary