California Regulatory Review Course for CPAs (R & R)

Learning Objectives

• To analyze the rules of professional accounting as CPAs through the analysis of case studies involving both actual situations and hypothetical facts.
• To determine ethical judgment in interpreting the rules and determining public interest. Public interest should be placed ahead of self-interest, even if it means a loss of a job or client.
• To analyze and apply the AICPA Code of Professional Conduct and California law that pertains to CPAs licensed to practice in the state of California. Students will become familiar with the California Statutes, Administrative Rules, and Code of Professional Conduct, the Policies adopted by the Board currently in effect, and how the statutes, rules, and policies about them. 
• To determine the course of action that would uphold the intent of the rules in the performance of professional accounting services/work, not just to adhere to the mere technical compliance of such rules.
• To discuss lessons learned from misconduct which is the subject of historic and recent disciplinary actions taken by the Board.
• To review and discuss the rules and their implications for persons in a variety of practices, including CPAs who provide assurance, attest, or compilation services, and CPAs who provide tax services.

Course Description

To ensure timely credit, it is recommended to complete the California Ethics course before December 31st, 2024, as that is the expiration date for the course.

A CPA is challenged in today's work world to not only serve his/her client or employer but also to protect the public interest by ensuring that there is transparency in financial reporting or there is fair administration of tax laws.  In balancing the two interests, a CPA may find him or herself in an ethical dilemma.

This online CPE course by Allison McLeod discusses not only basic ethical frameworks, but also specific rules from the AICPA Code of Professional Conduct, and the California Regulations, Administrative Rules, and Code of Professional Conduct.  These sources govern the practice and responsibilities of California CPAs.

Major topics covered in this CPE Webinar:

• California Codes of Conduct
• Obligations to the Board
• Use of CPA Designation, Firm Ownership, & Practice Privileges
• Firm Ownership and Administration
• Contingent fees, Commissions, and Conflicts of Interest
• Impact of Code Violations

Overview

• Introduction

  3 mins
• Codes of conduct for CPAs

  12 mins
• Obligations to the board

  28 mins
• Practice without permit, Temporary practice

  45 mins
• Peer review exclusions

  61 mins
• incompatible occupations/conflict of interest

  78 mins
• The document assembly period and subsequent changes in audit documentation

  97 mins