New York: Ethics for New York CPAs (Tax Concentration) - v13 (Course Id 919)

Regulatory Ethics - Regulatory Ethics for Course Id 919

Individuals in the accounting profession have a considerable responsibility to the general public. To gain public trust and maintain professionalism, professional conduct and ethical behavior are necessary. This is an ethics course for New York CPAs with a taxation concentration.

The course begins with a presentation of ethics and ethical behavior, discussing the relationship between morals and ethics and identifying the causes of unethical behavior. It explains the process of ethical reasoning and how to apply it when dilemmas occur. It covers the AICPA Code of Professional Conduct, along with the conceptual framework approach, which helps CPAs identify threats to compliance with the rules and evaluate the significance of those threats. It also includes the AICPA’s standards for tax services and Internal Revenue Service requirements for tax professionals’ obligations under Treasury Circular No. 230. Finally, it addresses New York State rules on ethics as found in the New York State Law, Rules and Regulations. Examples and case studies are used to illustrate the appropriate application of the rules and also AICPA ethics violations.

NASBA QAS - Text - NASBA Registry - 919

Chapter 1
Ethics and Ethical Behavior

• Recognize ethical reasoning used by accountants

Chapter 2
AICPA Code of Professional Conduct

• Recognize different principles and rules of the AICPA Code of Professional Conduct
• Identify independence and objectivity issues
• Recognize ethical standards and violations

Chapter 3
Ethical Standards for Tax Services

• Identify elements of AICPA’s standards for tax services
• Recognize rules from Circular 230 as they apply to tax services

Chapter 4
New York State Ethics for CPAs

• Identify the requirements for practicing public accountancy in New York
• Recognize conduct deemed unprofessional by the state of New York

Chapter 1:   Ethics and Ethical Behavior

Learning Objectives

The Concept of Ethics

Relationship between Morals and Ethics

Legal, Ethical, and Moral

Reasoning and Dilemmas

Causes of Unethical Behavior

Approaches to Ethical Behavior

Corporate Ethical Development Model

Chapter 1 Review Questions

Chapter 2:   AICPA Code of Professional Conduct

Learning Objectives

Code Structure

Principles of Professional Conduct

Ethical Decision-Making Conceptual Framework

Rules of Conduct

1.100 - Integrity and Objectivity Rule

1.110 Conflicts of Interest

1.120 Gifts and Entertainment

1.130 Preparing and Reporting Information

1.140 Client Advocacy

1.150 Use of a Third-Party Service Provider

1.200 - Independence Rule

1.228 Engagement Contractual Terms

1.230.010 Unpaid Fees

1.240 Financial Interests

1.260 Loans, Leases, and Guarantees

1.265 Business Relationships

1.270 Family Relationships with Attest Client

1.275 Current Employment or Association with an Attest Client

1.290 Actual or Threatened Litigation

1.295 Nonattest Services

1.297 Independence Standards and Agreed-Upon Procedures Engagements

1.298 Breach of an Independence

1.300 - General Standards

1.310 - Compliance with Standards Rule

1.320 - Accounting Principle Rule

1.400 - Acts Discreditable

1.510 - Contingent Fees

1.520 - Commissions and Referral Fees

1.600 - Advertising and Other Forms of Solicitation

1.700 - Confidential Information

1.800 - Form of Organization and Name

Chapter 2 Review Questions

Chapter 3:   Ethical Standards for Tax Services

Learning Objectives

AICPA’s Standards for Tax Services

SSTS No. 1 - Tax Return Positions

SSTS No. 2 - Answers to Questions on Returns

SSTS No. 3 - Certain Procedural Aspects of Preparing Returns

SSTS No. 4 - Use of Estimates

SSTS No. 5 - Departure from a Position

SSTS No. 6 - Knowledge of Error

SSTS No. 7 - Form and Content of Advice

Circular 230 -

Regulations Governing Practice Before the IRS

Overview

Professional Obligations

Violations of Regulations

Chapter 3 Review Questions

Chapter 4:   New York State Ethics for CPAs

Learning Objectives

Professional Misconduct Enforcement

Article 149 Public Accountancy

Practice of Public Accountancy

Registration of Public Accounting Firms

§ 29 Unprofessional Conduct

General Provisions: Unprofessional Conduct

Special Provisions: Practice of Public Accountancy

Chapter 4 Review Questions

Appendix I: AICPA Ethics FAQ

Blind Trusts

Campaign Contributions

Disclosure of Commissions

Independent Contractors

Letter Of Intent to Purchase Practice

Pro Bono/Below Cost Fees

Compliance with SSCS’s When Member Does Not Hold out as CPA

Use of Standards That Have Not Been Established by a Body Designated by AICPA Council

Form of Communication

Transfer of Client Files to Another Partner in The Firm

Transfer of Client Files in a Merger

Transfer of Files and Return of Client Records in Acquisition of a Nonmember Practice

Electronic Records

Long Association of Senior Personnel of the Engagement Team

Loans

Staff Augmentation Arrangements

Client Affiliates

Appendix II: Conceptual Framework Worksheet

Appendix III: Conflicts of Interest Situations

Appendix IV: Ethics Violation Situations

Appendix V: AICPA Ethics Violation Case Studies

Inadequate Accountant

Harmless Mistakes

Almost Stolen Clients

Appendix VI: How to Exercise Due Diligence

Appendix VII: Special Provisions for Public Accountancy in New York State

Work Papers

Competency

Reportable Events

Commission

Glossary