CPAs have a well-earned reputation for ethical behavior. It is every CPA’s responsibility to uphold this reputation and to enhance it for the next generation. In order to act ethically, CPAs need to thoroughly understand their ethical and regulatory requirements with regard to the core principles of integrity, objectivity and independence. In this course, we will study the source of these responsibilities by exploring the AICPA’s Code of Professional Responsibility (Code) and the United States Department of the Treasury Circular 230 (Circular 230), which details tax practitioners’ responsibilities when representing tax payers in front of the Internal Revenue Service (IRS). The course will discuss and provide examples of the Code’s Independence Rule, and its various interpretations as well as discuss the disciplinary process under Circular 230. The course uses practical "Case in Point" examples to provide hands-on applications of the material in order to achieve its primary objective of helping to educate CPAs in the ethics of the accounting profession.
- Ethics and ethical behavior as it relates to the practice of public accounting
- The core principles of professional conduct – integrity, objectivity, and independence
- The AICPA Code of Professional Conduct (Code), including recent changes to it
- IRS Circular 230 requirements and disciplinary actions
- Explain the CPA’s responsibility for ethical behavior as it relates to confidentiality, objectivity and integrity
- Understand the core principles of professional conduct – integrity, objectivity, and independence
- Recall the Code’s Independence Rule and the AICPA’s various interpretations of it
- Recall tax practitioners’ responsibilities under Circular 230 when practicing before the IRS
CPAs desiring to satisfy the general professional ethics requirement as well as those desiring greater understanding of CPA’s ethical and independence requirements.