A Back and Forth Discussion of Ethics for Mississippi CPAs
Author: Allison McLeod
| CPE Credit: |
4 hours for CPAs |
A CPA is challenged in today’s work world to not only serve his/her client or employer but also to protect the public interest by ensuring that there is transparency in financial reporting or there is fair administration of the tax laws. In balancing the two interests, a CPA may find him or herself in an ethical dilemma. This course covers not only basic ethical frameworks, but also specific rules from the AICPA Code of Professional Conduct, and the Mississippi Revised Statues, Administrative Rules and Code of Professional Conduct. These sources govern the practice and responsibilities of Mississippi CPAs. It concludes with a section on how a CPA can put his or her ethics into action.
Publication Date: August 2024
Topics Covered
- Part I: Ethics, Morals and Values
- Case Study: Student Suspended After Saving Life
- Case Study: Officer Robert Powell
- Case Study: Sinking of the Royal Charter
- Part II: AICPA Code of Professional Conduct
- Case Study: Auditors Cheating on Qualifying Exam
- Case Study: $40m Embezzlement at Yale Med School
- Case Study: Henry Camferdam
- Mississippi Rules
- Use of CPA Designation & Practice Privileges
- Due Care
- Independence, Integrity and Objectivity
- Confidentiality & Client Records
- Firm Names & Advertising
- Impact of Code Violations
Learning Objectives
- Recognize and apply the ethics of professional accounting as CPAs through the analysis of case studies involving both actual situations and hypothetical facts
- Recognize and apply ethical judgment in interpreting the rules and determining public interest. Public interest should be placed ahead of self-interest, even if it means a loss of job or client
- Identify how to analyze and apply the AICPA Code of Professional Conduct and Mississippi law that pertain to CPAs licensed to practice in the state of Mississippi
- Describe Mississippi Revised Statues, Administrative Rules and Code of Professional Conduct, and the Policies adopted by the Board currently in effect and how the statutes, rules, and policies
- Identify how to determine the course of action that would uphold the intent of the rules in the performance of professional accounting services/work, not just to adhere to the mere technical compliance of such rules
- Describe the rules and their implications for persons in a variety of practice
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Regulatory Ethics (3 hours)
Program Prerequisites
None
Advance Preparation
None
