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2021 CPA Advanced Ethical and Liability Subjects of Conflicts of Interest, Independence, Fiduciary Duty, and Tax Practice Ethics

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Before starting this self study program, please go through the instructional document.

Overview

  • Underlying Public Interest Perception Concerns
    14 mins
  • AICPA Framework and Conflicts of Interest
    31 mins
  • CPA Client Business Transactions
    62 mins
  • Independence and Attestation Engagements
    77 mins
  • Fraud in Client Reporting
    104 mins
  • Investment Advice and Financial Planning
    139 mins
  • Sarbanes-Oxley and Publicly Traded Corporations
    162 mins
  • SSTS 3 Procedural Aspects of Preparing Returns
    180 mins
  • Tax Service Engagement Letters
    210 mins

Course Description

Accountants perform a wide variety of activities which include, but are not limited to, accounting & auditingtax, management consulting, and financial management. However, a professional accountant’s responsibility is not exclusively to satisfy the needs of an employer or professional services client. One of the distinguishing characteristics of the accounting profession is its acceptance of the responsibility to act in the public interest. 

Conflicts of interest are perhaps the most commonly encountered professional ethics issue. The resolution of a potential or actual conflict of interest first requires that the character of the conflict of interest be recognized and disclosed to affected parties. This online CPE webinar will address a variety of case histories with contributions and insights from Jim's personal experience.

By attending this online ethics course you will gain:

Ability to spot symptoms of an impending reporting or tax ethics or legal complaint. 

  • CPA hot button responsibilities and prohibited conduct described in the new AICPA “recodified” Code of Ethics Rules applied to actual litigated disputes. 
  • An understanding of the various types of potential conflicts of interest and confidentiality dilemmas and how to achieve client “informed consent.” 
  • How the courts and State Board have applied the fiduciary duty status to CPAs creating a very high standard of care and affirmative duties beyond ordinary negligence. 
  • How the AICPA and IRS set a legal ethical structure to regulate a CPA’s tax practice. 

THIS COURSE IS DESIGNED FOR: 

  •  Individual CPAs desiring to refresh their sense of the red flags and danger signals in high-risk new client’s engagement acceptance decisions. 
  • CPA firms desiring a focused training workshop for both partners and general staff employees covering the most sensitive ethical dilemmas. 
  • Quality Control Partners reviewing and updating their internal CPA firm ethical principles and procedures.
  • CPAs wanting to receive 4 hours of technical non-statutory CPE in accounting and tax ethics. 

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Learning Objectives

  • To identify the seven categories of conflict risks and independence threats for a CPA in public practice or business and how to mitigate the situation.
  • To disucss how to create safeguards and the mitigators suggested by the AICPA and prepare and document the appropriate disclosure of risks and safeguards in a given situation.
  • To evaluate situations requiring retaining an independent objective third-party evaluator.
  • To examine significant reasons for a court imposing the higher legal status of a CPA’s fiduciary duty.
  • To identify the standards set by the Sarbanes-Oxley and Dodd-Frank Acts applicable to a CPA serving on a corporate board of directors and/or the audit committee of a client.

Who Should Attend?

  • Accounting Firm
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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