Contents
The Relationship of Morals and
Ethics
Illustrative Examples of Ethics
Why Should We Study Professional
Ethics?
Ethical Core Foundations for CPAs
Case Studies – Threats and
Safeguards
Public Expectations of the CPA’s Responsibility
The Role of the Office of the
Professions in New York
Enforcement of Rules on Ethics
The New York State Rules on Ethics
– Rules of the Board of Regents
Retention and
Maintenance of Work Papers
Competency
Requirements for Attest and Compilation
Failure to
Maintain an Active Registration
Retention of
Client Work Papers
Other
Unprofessional Conduct in the Practice of Public Accountancy
Failures in
expressing an opinion on financial statements
Opinion and
Examination Required
Admission of
Guilt, Suspension, Failure to meet Federal Standards
Other Applicable New York
Regulatory Requirements – New York State Education Law
Continuing
Professional Education
Bernard
Madoff Investment Securities LLC – Failures in Expressing an Opinion on
Financial Statements
A Little Extra Income – Contingent
Fees
Audit Experts - Advertising and
Audit Requirements
Adjusting Journal Entries - Work
Paper Retention
The New York State CPA Society
Rules on Ethics
The AICPA Code of Professional
Conduct
Part 1 – Members in
Public Practice
Rule 1.100 Integrity and
Objectivity
Case Study – Married Tax Clients
Divorcing
1.130
Preparing and Reporting Information
Case Study – Year End Adjustments
and Loan Covenants
Rule 1.300—General
Standards Rule
Case
Study – Audit Engagement with No Prior Experience
1.310 Compliance with
Standards Rule
Case Study – Peer Review
Discoveries
1.320 Accounting Principles
Rule
1.400.001 Acts Discreditable
Rule
1.510.001 — Contingent Fees
Rule
1.520.001—Commissions and referral
fees Rule
1.600.001
—Advertising and other forms of solicitation
1.700.001—
Confidential client information rule
1.800.001—Form
of organization and name rule.
2.100.001
– Integrity and Objectivity Rule
2.130.030 Obligation of a Member to
His or Her Employer’s External Accountant
2.170.010
– Pressure to Breach the Rules
2.300.001
— General standards rule
2.310.001—Compliance with
standards rule
2.320.001—Accounting
principles rule
Case Study - The Company with
Excess Reserves
Case Study - The Company with Undisclosed/Unrecorded
Contingencies
2.400.001 Acts Discreditable
Rule
2.400.070
Confidential Information from employment or volunteer activities
3.400.001
- Acts discreditable rule
3.400.070
Confidential Information from employment or volunteer activities
Joint
Ethics Enforcement Program (JEEP)
Regulations of the Commissioner, Part 70
New York Code, Article 149,
Sections 7400-7410
Rules of the
Board of Regents, Part 29.1
Rules of the
Board of Regents, Part 29.10
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