- 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
Learning Objectives
- 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
- Describe various auditor independence standards that apply to attest work performed for public companies, governmental and federally-funded entities, employee benefit plans, and private companies
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
