A hallmark of the public accounting profession is its commitment to professional ethics and the public interest. This course, which meets the New York State (NYS) four-hour ethics CPE requirement and approved by the New York State Board of Public Accountancy gives you a basic understanding of the fundamental concepts underlying your ethical responsibilities and increases your awareness of critical standards and regulations. The course focuses on NYS Education Law, Rules of the Board of Regents, and Regulations of the Commissioner of Education, but also addresses the myriad rules and regulations of the American Institute of Certified Public Accountants (AICPA). Available tools and resources that will help you understand and comply with relevant requirements are also highlighted.
Learning Objectives
- Learn the six principles underlying the AICPA Code of Professional Conduct
- Identify new and proposed changes to the profession's ethical requirements
- Understand fundamental concepts about ethics
- Describe the NYS Laws, Rules and Regulations that apply to you as a NYS licensed CPA
- Differentiate between the NYS Rules and rules of the AICPA Codes of Professional Conduct
- Understand how the profession's rules of conduct are enforced by various bodies
Major Topics
- The AICPA ethical standards-Code of Professional Conduct (Code) including proposed revisions to the Code
- Emerging ethical issues
- The role of NYS Office of the Professions
- New York State rules on ethics (as provided in NYS Law, Rules and Regulations), including but not limited to:
- Retention and maintenance of work papers
- Competency requirements for attest and compilation services
- Failing to maintain an active registration when using the title of designation
- Reportable events
- Commissions and referral fees, including mandatory disclosure
- Compare and contrast the State and professional societies' rules on ethics
- Public expectations of CPAs’ responsibilities
- Enforcement of rules on ethics by AICPA and NYS Office of the Professions
