With the number of negative, high-profile cases gaining attention in recent years, it is imperative that practitioners be well-versed and clear as to their ethical responsibilities to the public that they serve. This program opens with a discussion of ethics in accounting. To keep discussions flowing, the text gives case studies and examples to illustrate ethical decisionmaking points. The author reviews the various rules and requirements that CPAs need to be in compliance, including: the Tennessee Laws and Rules; the AICPA Principles and Rules of Conduct; ethical responsibilities in tax practice; and PCAOB Ethics and Independence Rules.

This course meets the Tennessee Board of Accountancy's requirement for licensees in the State of Tennessee to have 4 hours of continuing education as a condition of re-licensing every two years.

Use of Materials

Audio or DVD
The user should begin by watching the DVD segment or listening to the audio CD for the chapter before reading the text. The user may wish to make notes of the most important concepts and any terms that are new. Next, the user should review the learning objectives at the beginning of the chapter and read the chapter. The user should work through each of the examples. It may be helpful to highlight important material and/or to make additional notes. Next, the user should complete the study questions at the end of the chapter and review the answers. If the user answers a study question incorrectly, s/he should review the section of the text that is indicated at the end of the explanation to the study question to assure comprehension of the material. The user should review the learning objectives once more to consider achievement of the objectives. After the user has finished watching the DVD or listening to the audio CDs and reading the text and working through the study questions, s/he may wish to review her/his notes and any sections of the text or DVD or audio CDs that were difficult. When the user is ready, s/he should complete the quizzer. Reviewing notes periodically will increase retention of the material.

Online
The user should begin by watching the streamed video segment, if any, or listening to the streamed audio segment, if any, for the chapter before reading the text. The user may wish to make notes of the most important concepts and any terms that are new. Next, the user should review the learning objectives at the beginning of the chapter and read the chapter. The user should work through each of the examples. After the user has studied each chapter, s/he should click on the link at the left to complete the interactive study questions. If the user answers a study question incorrectly, s/he should review the section of the text that is indicated at the end of the explanation to the study question to assure comprehension of the material. The user should review the learning objectives once more to consider achievement of the objectives. After the user has finished watching the streamed video, if any, or listening to the streamed audio, if any, and reading the text and working through the study questions, s/he may wish to review her/his notes and any sections of the text or video/audio, if any, that were difficult. When the user is ready, s/he should click on the link to the left to complete the quizzer. The user's CPE certificate will be provided immediately upon successful completion of the quizzer.

Software
The user should begin by reviewing the learning objectives at the beginning of the chapter and read the chapter. The user should work through each of the examples. As the user studies each chapter, s/he should complete the interactive study questions that appear in the lower panel of the screen. If the user answers a study question incorrectly, s/he should review the section of the text that is indicated at the end of the explanation to the study question to assure comprehension of the material. The user should review the learning objectives once more to consider achievement of the objectives. After the user has finished reading the text and working through the study questions, s/he may wish to review her/his notes and any sections of the text that were difficult. When the user is ready, s/he should click on the link at the far left to complete the quizzer. The user should email her/his quizzer statistics using the quizzer submission link in the software and the user's CPE certificate will be mailed to her/him.

Chapter 1 examines ethics in the accounting field.

Chapter 2 discusses the general regulation of CPAs in Tennessee.

Chapter 3 reviews licensing requirements and continuing education.

Chapter 4 discusses professional conduct for CPAs in the state of Tennessee.

Chapter 5 considers peer review and complaints in the state of Tennessee.

Chapter 6 discusses independence, integrity, and objectivity as it relates to the AICPA Code of Professional Conduct.

Chapter 7 covers other AICPA ethics rules.

Chapter 8 examines various statements on standards for tax services.

Chapter 9 focuses on PCAOB ethics and independence rules.

The Appendix contains a bibliography.

Throughout this program, the user will find explanations and discussions regarding some of the issues that often face practitioners. In order to enhance the user's comprehension of the material and highlight important practical considerations, this program includes the following designations:

A Biskplan offers a strategy/discussion point when a practitioner is faced with a particular issue or situation.

A Biskpoint presents analysis or commentary that attempts to explain or clarify authoritative guidance.

A Bisktip provides practical advice that may be used to help improve client service or service to the practitioner's organization.

• Describe how business failures were caused by breakdowns in corporate governance and what might be done to improve financial oversight

• Discuss the role and responsibilities of the Public Company Accounting Oversight Board

• Explain the characteristics of the accounting profession and the regulatory system for CPAs

• Describe how the provisions of the Sarbanes-Oxley Act of 2002 affect CPA firms

• Explain how the Principles of the AICPA Code of Professional Conduct provide the foundation for the Code's enforceable provisions (Rules)

• Discuss the legislative intent of the Accountancy Law in Tennessee

• Describe the requirements for the renewal of licenses in Tennessee

• List the requirements for application and renewal of CPA and PA firm permits

• Describe the experience requirements to support attest services

• Describe the requirements for interstate practice in Tennessee, including reciprocity

• List the basic CPE requirements for licensees in Tennessee

• Explain the basic requirements for qualifying CPE programs and control and reporting system mechanisms in place to assure quality control

• Describe the Rules of Conduct of the Board and statutory requirements established in the Accountancy Act

• Explain how the rules of conduct including independence, and integrity and objectivity apply to the performance of professional services in Tennessee

• Discuss the requirements and limitations when accepting contingent fees, commissions, and other consideration including disclosures

• Describe the requirements for the performance of services with competence and in compliance with professional standards

• Apply the rules for maintaining the confidentiality of client information and when exceptions apply

• Explain when accountants' records belong to the accountant under the rules and when working papers should be provided to clients

• Discuss which acts committed by a licensee may be deemed to be discreditable to the profession and constitute a violation of the rules

• Discuss the requirements for peer reviews in Tennessee and how to report the results of a peer review and what actions may be imposed by the Peer Review Committee for deficiencies cited in the peer review report

• Describe the prohibited activities that may lead to complaints filed against individual licensees and licensed CPA firms

• Explain what may cause an individual's license to be suspended or revoked or not renewed

• List the requirements for having a modification of suspension, revocation, or the refusal of the Board to renew one's license to practice

• Discuss how the independence rules of the AICPA provide restrictions on the performance of audit and other attest services for a client

• Answer questions about the application of the independence, objectivity and integrity rules to the performance of professional services

• Discuss the ethics rules that govern the quality of professional services performed for clients and employers

• Describe a CPA's ethical responsibilities to clients in the performance of professional services

• Explain how the AICPA Statements on Standards for Tax Services (SSTS) affect a CPA's ethical and professional responsibilities in tax practice

• Describe the ethical obligations of a tax practitioner to clients and the government

• Describe how Rules 3501 and 3502 create an overall framework for independence within the PCAOB's ethics rules

• Explain how Rules 3521, 3522, and 3523 treat a public accounting firm as not independent

• Explain how Rules 3524 and 3525 establish requirements for audit committee pre-approval when performing, for an audit client, tax services and permissible nonaudit services related to internal control over financial reporting