Overview
Adherence to the AICPA Code of Professional Conduct is mandatory for AICPA members. Further, the code is the de facto standard for the accounting profession and is recognized by various courts and regulatory bodies. Therefore, maintaining current
knowledge of the rules and how to apply them correctly is imperative. This course offers a timely update and refresher on the AICPA Code of Professional Conduct, covering essential topics such as the conceptual framework, independence provisions for nonattest services, personal independence, and other critical issues. You'll explore the basic tenets of ethical and professional conduct and gain insight into the code's necessity and organizational structure.
Objectives
• Recall the structure and content of the AICPA Code of Professional Conduct (the code).
• Identify the role of professional judgment and critical thinking in applying the code.
• Apply the conceptual framework approach.
• Identify independence requirements that apply to different types of client entities.
• Recall how to address a potential conflict of interest under the AICPA Code of Professional Conduct.
• Recall new and revised professional ethics interpretations and definitions.
• Recall recently implemented interpretations on responding to noncompliance with laws and regulations.
• Recognize how the ethics standards set by the International Ethics Standards Board for Accountants may affect the AICPA Code of Professional Conduct.
Major Topics
• Conceptual Framework
• AICPA Code of Professional Conduct
• Independence requirements
• New interpretations added to the AICPA Code of Professional Conduct
