Ethics - Mastering the Conceptual Framework Process (Course Id 2287)

• Who is this course for?
  This course is for CPAs in public practice or business, as well as anyone needing Continuing Professional Education (CPE).

• What is this course about or what problem does this course solve?
  It covers the importance of ethics for CPAs and teaches the application of the AICPA’s Conceptual Framework Process to address ethical issues and threats to compliance.

• How can the knowledge from this course be used?
  The knowledge can be used to identify ethical standards, recognize threats to compliance, and apply a structured three-step process to resolve ethical conflicts.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It is important because it strengthens professional integrity, ensures adherence to the AICPA Code of Professional Conduct, and helps CPAs safeguard against ethical violations.

• When is this course relevant or timely?
  This course is relevant whenever CPAs face ethical challenges in practice or business, and it is especially timely given its 2024 release with updated guidance.

• How is a course like this consumed or used?
  It is completed through NASBA-approved QAS self-study, requiring reading of the course material and passing a final exam with a minimum score of 70% to earn CPE credit.

This course explores some of the fundamental concepts related to ethics and their overall importance to CPAs in both public practice and in business.  This course primarily focuses on an understanding and application of the Conceptual Framework Process outlined by the AICPA Code of Professional Conduct.  This course also provides examples of threats to a CPA’s compliance with the Code.

NASBA QAS - Text - NASBA Registry - 2287

Course Learning Objectives

• Recognize the importance of ethics for CPAs
• Identify ethical standards CPAs should follow
• Recognize various types of threats both CPAs in public practice and business may face
• List the three steps in the Conceptual Framework Process prescribed by the AICPA

Chapter 1 - Ethics - Mastering the Conceptual Framework Process

Course Learning Objectives

Course Overview

Introduction

Importance of Ethics for CPAs

Ethics Standards CPAs Follow

Conceptual Framework Process

Specific Steps in the Conceptual Framework Process

Review Questions

Threats

Significance of Threats

Safeguards

Effectiveness of Safeguards

Approaching Ethical Conflicts

Best Practices for Applying the Conceptual Framework Process

Conclusion

Review Questions

Glossary of Key Terms