Professional Ethical Considerations for CPAs - 2024 Virginia Approved

Learning Objectives

• To describe core principles underlying the AICPA’s Code of Professional Conduct that apply to both CPAs in public practice and industry.
• To discuss conflicts of interest, confidentiality, and the nuanced considerations surrounding gifts and entertainment in the CPA profession.
• To explain common ethical dilemmas faced by all CPAs and how they can be safeguarded to an acceptable level.

Course Description

Every CPA must comply with the AICPA’s Code of Professional Conduct, The AICPA Code of Professional Conduct serves as a guiding framework for CPAs in public practice and industry, with distinct sections for members in different roles, considered as a hallmark of the CPA designation.

In this webinar, we'll discuss the heightened challenges faced by CPAs in public practice, particularly in maintaining independence when providing attestation services. The course will highlight CPAs' responsibilities to the public interest, clients, and colleagues, exploring real-world ethical dilemmas and enforcement measures. Special focus will be on the strategic application of a conceptual framework to identify and safeguard against potential threats, emphasizing principles like integrity, objectivity, and due care. Join us for an overview of the core principles shaping the CPA profession.

This CPE course will further delve into the intricacies of conflicts of interest, confidentiality, and the nuanced acceptance of gifts and entertainment in the CPA profession. Attendees can expect insights into preventive measures against unauthorized disclosure of confidential information, along with real-world examples of conflicts of interest that may arise for CPAs in business.

Key areas covered:

• Core principles of the AICPA’s Code of Professional Conduct applicable to all CPAs, including conflicts of interest, preparing and reporting information, competence, confidential information, and more

• The importance of maintaining independence for CPAs in public practice, especially when also performing non-attest services for the attest client

Join this CPE Ethics course and delve into the ethical landscape for CPAs in Virginia, providing valuable insights and practical guidance for navigating the complexities of the profession.

NOTE:  This course is approved by the Virginia Board of Accountancy (VBOA) to satisfy the Virginia-specific ethics requirement.

Overview

• The Board's Mission and Authority

  4 mins
• Representing yourself as a CPA

  23 mins
• Conceptual framework definitions

  39 mins
• General requirements for Performing both Attest and Nonattest services

  56 mins
• Public interest entity defined

  70 mins
• Gifts and Entertainment - Members in Business

  84 mins
• Exceptions to confidentiality rule - Member in business

  97 mins