Professional Ethics for AccountantsCode: 24-ETHICS

98 pages
Course description and objectives:

This is an ethics course covering standards of professional conduct and business practices adhered to by accountants such as CPAs in order to enhance their profession and maximize idealism, justice and fairness when dealing with the public, clients and other members of their profession. It also presents an approach ‐‐the threats and safeguards approach –to coping with ethical dilemmas. The Sarbanes‐Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Also included are some cases of AICPA ethics violations.

Course Objectives:

After reading the materials, participants will be able to:

• Recognize ethical reasoning used by accountants.
• Identifydifferent principles and rules of the AICPA Code of Professional Conduct.
• Identifyindependence and objectivity issues.
• Recognize ethical standards and violations.
• Identifythe key issuesof corporate responsibility law (Sarbanes‐Oxley act) that influence auditor independence.
• Identify licensing and disciplinary mechanisms within the profession.
• Identify the ethical standards required ofaccountants and financial professionals by the Institute of Management Accountants (IMA).