General Ethics AICPA (2 Hours)

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General Ethics AICPA (2 Hours)

Monday, June 22, 2020

4.2 (102)

Presenter :Albert Spalding

Company :Albert Spalding PLC

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Course Details

Overview of Topics

Introduction1 mins
What is Different about This Workshop4 mins
Ethics as Not Law6 mins
Ethics as ought or Ought Not30 mins
Ethics as Integrity68 mins

Course Description

This basic course introduces and explains the ethical standards for the CPA, whether employed in public, governmental, or private accounting. Applications of these are discussed in a professional context. These Principles are based on the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct, which are the basic standards for all CPAs.

This course explains the issues, developments, and problems addressed by recent AICPA and SEC Ethic pronouncements and updates.

Learning objectives

Introduce various philosophical aspects of ethics and the Composition, Applicability, and Compliance aspects of the American Institute of Certified Public Accountant’s Code of Ethics.
Identify the Principles that provide the overall environment of the Code of Ethics

About Presenter

Albert Spalding

Owner,Albert Spalding PLC

aspalding@wayne.edu

Ethics and apologetics speaker and debater. Encourager of those who are just trying to get it right. Most recent book: "The Gift of Dread: How Your Search for Meaning in Life can Lead to God"

Most recent debate: "Does God Exist?" with Prof. Bruce Russell at Wayne State University

Albert Spalding PLC

Ethics and apologetics speaker and debater. Encourager of those who are just trying to get it right. Most recent book: "The Gift of Dread: How Your Search for Meaning in Life can Lead to God"

Most recent debate: "Does God Exist?" with Prof. Bruce Russell at Wayne State University

Review Questions

Question 1 : 00:15
Question 2 : 00:30
Question 3 : 00:45
Question 4 : 01:00
Question 5 : 01:10
Question 6 : 01:25

Review Questions
Final Quiz

Complete the following sentence. A member in public practice should observe the Principles of the Code of Professional Conduct:
- In determining the scope of services to be provided.
  The scope of services to be provided is just a part of the answer.
- Which requires that members services be consistent with the professional behavior set for CPAs.
  This response is incorrect. This is what public interest requires.
- In determining the scope and nature of services to be provided.
  This response is correct.) The scope and nature of services to be provided is the best answer.
- In determining the nature of services to be provided.
  The nature of services to be provided is just a part of the answer.
The purpose of the AICPA Code is:
- To provide guidance to AICPA members.
  The Code does provide guidance to members of the AICPA, but that is not all.
- To provide both guidance and rules regarding professional conduct for all CPAs regardless of affiliation.
  The Code may provide guidance and rules for all CPAs, but that is not the purpose of the AICPA Code.
- To provide both guidance and rules regarding professional conduct for AICPA members.
  The Code provides guidance and rules to members of the AICPA (and guidance only for other CPAs).
- To provide guidance regarding professional conduct for all CPAs and rules for AICPA members.
  The Code may provide guidance for all CPAs and rules for AICPA members, but that is not the purpose of the AICPA Code.
The sections of the Code consist of _________ and _________:
- Principles and Standards.
  Standards is not one of the sections.
- Rules and Standards.
  Standards are a subset of the Rules, not one of the sections.
- Principles and Rules.
  The two sections are Principles and Rules.
- Rules, Principles and Standards.
  There are only two sections, not three.
5. A Covered Member is:
- An individual on the attest engagement team
  An individual on the attest engagement team is a Covered Member.
- A Partner in an office in the same state.
  A Partner in an office in the same state is not necessarily a covered member. Other attributes must be present.
- An individual in a position to influence the attest engagement.
  An individual in a position to influence the attest engagement is a Covered Member.
- The firm, including the firm\\\\\\\'s employee benefit plans.
  The firm, including the firm\\\\\\\'s employee benefit plans, is a Covered Member.
Which of the following items best completes the sentence? Independence in Fact:
- Involves impartiality.
  Impartiality is connected with objectivity.
- Indicates that the member has abstained from relationships that appear to prevent objectivity.
  Independence in appearance, not fact, involves actions such as abstaining from relationships.
- Is a state of mind.
  Independence in fact is attitudinal, that is, a state of mind. Independence in appearance involves actions.
- Involves freedom from conflicts of interest.
  Objectivity involves actions such as freedom from conflicts of interest.
Which of the following members do NOT have to remain objective and to avoid any aspects of conflicts of interest?
- Those who prepare financial statements.
  Those who prepare financial statements must remain objective and avoid conflicts of interests, but this is not the best answer.
- Those who perform audits.
  Those who perform audits must remain objective and avoid conflicts of interests, but this is not the best answer.
- Those who prepare tax returns.
  Those who prepare tax returns must remain objective and avoid conflicts of interests, but this is not the best answer.
- Those who prepare Federal reports to their employer.
  Reports to Federal employers by employees do NOT have to avoid conflicts of interest.

Minimum 70% Questions answer should be right.

Which of the following best completes the sentence? Compliance with the Code of Professional Ethics depends on:
- Disciplinary proceedings against members who do not comply.
- Reinforcement by peers and public opinion.
- Members understanding of the Code and their voluntary actions.
- All of the above.
Which of the following statements is NOT correct?
- The Rules provide the framework within which the Principles operate.
- The Principles provide the framework within which the Rules operate.
- The Rules govern the conduct of the members.
- The bylaws of the AICPA require adherence to both Rules and those standards emanating from the Rules.
Which of the following best completes the sentence? Rulings summarize the application of Rules of Conduct and Interpretations.
- And apply to a particular set of factual circumstances
- And provide guidelines as to the scope and application of the Rules.
- Which are for informational purposes only.
- And are the only ones applicable since January 12, 1988.
Which of the following best completes the sentence? The effective date of the AICPA pronouncements of Interpretations and Rulings is:
- The end of the grace period received, which is a year.
- The date the pronouncement is issued.
- The last day of the month in which it is published in The Journal of Accountancy.
- One Year from date of pronouncement.
Which of the following best completes the sentence? An Attest Engagement is an engagement that requires:
- Professional Due Care
- Integrity in all matters
- Independence as defined in AICPA Professional Standards
- All of the above
Which of the following statements is false?
- A client is a person or entity that engages a member to perform professional services.
- A firm is a partnership that is engaged in the practice of public accounting.
- Interpretations of rules of conduct are overall guidelines issued by the division of professional ethics concerning the application of the rules of conduct.
- Professional services include all services performed by a member while holding out as a CPA.
Which of the following best completes the sentence? Due care:
- Is obtained through a combination of education and experience.
- Is the pursuit of professional excellence through competence and diligence.
- Requires the member to render services promptly, carefully, and thoroughly.
- Is the mastery of the common body of knowledge.
The Rules of Conduct apply:
- To all services performed by a member unless specifically stated in the Code.
- To all audits and other attestation activities.
- Only to services performed in public accounting.
- To all Certified Public Accountants.
A CPA will be considered independent if:
- He or she is the owner of a firm and is located in an office that participates in a significant portion of the attest engagement.
- He or she is on the engagement team and has a nondependent close relative who has a position of significant influence with the client.
- He or she is on the attest engagement team and knows that a partner located in another office of the firm stands to gain financially directly from the success of the subject.
- He or she has a relative who is a delivery person for the firm.
The purpose of the Code is to provide both guidance and rules regarding professional conduct for:
- All CPAs .
- Members of the AICPA and guidance only for other CPAs
- Only Members of the AICPA
- Members of the AICPA and rules only for other CPAs.

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All jurisdictions accept courses from Registry sponsors to a certain extent. However, some jurisdictions have additional requirements. You can see which jurisdictions have these requirements here: https://www.nasbaregistry.org/cpe-requirements

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myCPE self-study courses are online.
The self-study format allows you to access the material online 24/7 and study at your own pace.
As per NASBA guidelines, you have one year from date of registration to complete each program.
Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
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Reviews

4.2

(102)

49%

29%

17%

SL

Shawn LeConey , CPA, Bookkeeper

Aug 6th 2020

Great webinar

Mark Templin

Jul 23rd, 2020

good

JATE

JOSE ANTONIO TAMARA ESPOT , CFE, CIA

Jul 20th, 2020

Excellent, clear and concise, provides great guidance

olatunde ajayi

Jul 10th, 2020

It was very thorough and covered most parts of the topic.

Yiseo Kim , CPA

Jul 4th, 2020

best

Colleen Colgan , CPA

Jul 1st, 2020

the slide "are contingent fees morally wrong?" was a great kickoff. the liberty tax case had me ROTFL. "...that's between them, God and the IRS if they're telling the truth." One of my best friends was in-house counsel at liberty tax through its most recent scandal and i was texting with her over this, sending her the slides and reliving the latest happenings, so that was an unintended benefit of ethics class -- getting in touch with old friends! the prominence of the "Everything is Ethical" and corresponding graphic on the 'Absence of Boundaries' slide feels like the state of the world right now. pretty dark. i applaud your brilliance in appealing to my personal ethics to complete the follow-up survey to the webinar: presumably you wanted thoughtful, meaningful feedback and not a simple five-star rating with a blank box? either way, i hope this review finds you well. thanks for the free ethics CPE!

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Cost FREE
CPE Credits 2
Subject Area Ethics (Behavioral)
Course Level Basic
Instructional Method QAS Self Study
Prerequisites None
Advanced Preparation None
Recorded Date June 22 ,2020
Published Date June 22 ,2020
Who should attend? Accountant CPA - Small Firm CPA - Mid Size Firm Accounting Firm Young CPA CPA in Business Entrepreneurial CPA Accounting Practice Owners Senior Accountant VP Accounts Accounts Director Chief Accounting Officer Entrepreneurial Accountant Accounting Managers Staff of Accounting Firm
Handout Material Download
Key Terms Download

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GUIDE TO DEPRECIATION UNDER THE TCJA

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Wednesday, July 29, 2020 View Details/Register

Forecasting in a Time of Uncertainty (COVID-19)

Tuesday, July 28, 2020 View Details/Register

TAX IMPLICATIONS AND PLANNING DUE TO COVID-19

Tuesday, July 28, 2020 View Details/Register

UBIT Under The TCJA

Tuesday, July 28, 2020 View Details/Register

Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients

Tuesday, July 28, 2020 View Details/Register

Tax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec

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Accounting for Business Combinations Overview

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