With the number of negative, but 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 the discussion of what is meant by ethics and the factors that influence ethical behavior. To keep discussions flowing, the text gives case studies and examples to illustrate ethical decisionmaking points. The author also reviews the various rules and requirements that CPAs need to be in compliance with, including: the AICPA Principles and Rules of Conduct, the statutes under the Idaho Accountancy Act and the Idaho BOA Rules of Conduct, and the Public Company Accounting Oversight Board rules.

This course meets the Idaho Board of Accountancy requirement to have four (4) hours of ethics biannually.

Biskalert: The AICPA Professional Ethics Division issued Proposed Revised and New Interpretations and Proposed Deletion of Ethics Rulings on June 29, 2012. Comments to the exposure draft will be considered by PEEC at its October 25-26, 2012, open meeting and final changes to Interpretation 101-3 under Rule 101 are expected to take effect subsequent to that meeting. Additional changes pending affect Rules 501 and 502 and ethics rulings under Rule 102, 501, and 502. The exposure draft can be reviewed at:

http://www.aicpa.org/interestareas/professionalethics/community/exposuredrafts/downl oadabledocuments/2012juneomnibusproposalaicpaprofessionalethicsdivision.pdf

Use of Materials

DVD
The user should begin by watching the DVD 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. 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 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 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.

Chapter 1 focuses on the definition of, and influences on, ethical behavior and how it is achieved using a moral development model.

Chapter 2 examines the philosophical reasoning methods that can assist a person in making ethical decisions.

Chapter 3 details the guidance in the statutes of the Idaho Accountancy Act.

Chapter 4 focuses on the Idaho Board of Accountancy Rules of Conduct.

Chapter 5 examines the independence standards that exist in the AICPA Rules of Professional Conduct, as well as the integrity and objectivity restrictions under the AICPA Code.

Chapter 6 covers additional AICPA ethics rules related to other responsibilities and practices.

Chapter 7 takes a look at the Statements on Standards for Tax Services as well as PCAOB 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 Biskalert is intended to warn the practitioner of a particular situation that may require action or other consideration by the client or the practitioner on behalf of the client.

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.

• Demonstrate an understanding of the relationship between following the law and ethical behavior

• Discuss how virtue influences one's ability to reason ethically

• Discuss the role of integrity in ethical decisionmaking by CPAs

• Identify the elements of utilitarianism, rights, and justice theories and how each might be used to reason out ethical dilemmas

• Describe the difference between services that can be provided by licensees and non-licensees, including when a report on financial statements can be issued

• Explain when a licensee can accept a commission or contingent fee for services rendered to a client

• Explain when the board might revoke, suspend, or refuse to renew a licensee and otherwise sanction a license

• Discuss when a licensee whose principal place of business is not in Idaho can qualify for substantial equivalency to practice in the state

• Describe the requirements to obtain a practice privilege in Idaho

• Discuss the rules of conduct

• Explain the requirements to undergo a peer review

• Describe when threats to independence may impair independence in the performance of professional services

• Explain when relationships between a CPA and a CPA's immediate family and close relatives might impair independence

• Explain when independence may be impaired when performing nonattest services for an attest client

• Discuss when independence may be impaired because of employment or other relationships with an attest client

• Explain the ethical obligations of a CPA to be objective and maintain integrity in dealing with supervisors and clients

• List the ethical obligations of a CPA to a client when using a third-party service provider to assist in providing professional services

• Discuss when ethics interpretations and rulings may affect the application of the independence, integrity, and objectivity rules of conduct

• Explain a CPA's ethical obligations to perform professional services with competence and to follow required standards of practice including GAAP

• Discuss the confidentiality obligation of CPAs including when using a third-party service provider

• Describe when client-provided records, member-prepared records, member work products, and member working papers should be provided to the client

• Explain the application of other rules of conduct including when contingent fees and commissions can be accepted, advertising and solicitation requirements, and restrictions on the form and name of an organization practicing public accounting

• Explain the "realistic possibility of success" standard for return positions

• Describe the standards for issuing an opinion to reflect the results of a tax planning services

• Discuss when the provision of tax services impairs auditor independence under PCAOB rules

• Explain when the provision of services related to marketing, planning, or opining on tax transactions violates independence standards

• Discuss when audit committee pre-approval is required before providing professional services to an audit client