Professional conduct and ethical behavior are really the backbone of the entire accounting and auditing profession. These components form the foundation upon which our creditability with the general public is built, without which, there is no profession. Whether you are a practitioner in public accounting or business and industry, you must always act in accordance with the requirements that define professional conduct and ethical behavior. This course meets the requirement that Louisiana license holders must complete three continuing education credits as part of their annual reporting requirement covering the applications of professional standards and responsibilities. This course discusses common ethical frameworks relevant to the practice of public accountancy, provides a detailed review of the ethical requirements for Certified Public Accountants, as found in the American Institute of Certified Public Accountants’ Code of Professional Conduct (Code) and discusses the major provisions of Louisiana’s Professional and Occupational Standards governing the practice of Certified Public Accountants in the state of Louisiana. Specifically, the course will address both the similarities and differences between the Code requirements for CPAs in public accounting as well as industry, including the threats to independence inherent in both. The course will also cover the implications of the recently effective Independence interpretation on hosting services.
The course will also cover recent statutory and regulatory changes impacting CPAs practicing in the state of LA. The primary objectives of this course are to educate CPAs regarding ethics and ethical behavior; review, emphasize, and convey the intent of ethical standards and responsibilities relating to a CPA’s performance of professional accounting services; and help CPAs apply ethical judgment in the context of the public interest through the use of illustrative case studies.
- Louisiana professional standards and responsibilities for the practice of public accounting
- Recent changes to the Louisiana’s rules governing the practice of public accountancy
- Principles and concepts which form the foundation of ethical behavior
- The AICPA Code of Professional Conduct, including recent Independence updates
- The core principles of professional conduct -- integrity, objectivity, and independence
- Case studies demonstrating application of the applicable rules and standards
- Similarities and differences in the responsibilities of CPAs in public practice and industry
- Be familiar with the principles and concepts which form the foundation of ethical behavior
- Understand the Louisiana professional standards and responsibilities for the practice of public accounting, including how they may differ from those in the AICPA Code of Professional Conduct (Code)
- Apply the Code and Louisiana professional standards to common ethical challenges faced by Louisiana CPAs
- Identify differences in the ethical requirements for CPAs in public practice and industry
- Review the core principles of professional conduct -- integrity, objectivity, and independence, as found in the Code
Louisiana CPAs engaged in the practice of public accounting