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Self-Study Courses

A Basic Ethics Guidebook for Minnesota CPAs (Currently Unavailable)

4 CPE Credits $21.25/credit hour
★ ★ ★ ★ ☆ 4.6 (5 ratings)
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 Minnesota Statutes and Administrative Rules. These sources govern the practice and responsibilities of Minnesota CPAs. It concludes with a section on how a CPA can put his or her ethics into action.

Publication Date: April 2020

Topics Covered

  • Part I: Framework of Ethical Thought
  • Case Study: Mortgage Crisis of 2007”2010
  • Case Study: Toronto Dominion Bank
  • Part II: Codes of Conduct for CPAs
  • Case Study: Olympus
  • Part III: Behaving Ethically: Putting The Rules Into Action
  • Minnesota Rules
  • The Minnesota Board of Accountancy
  • Use of CPA Designation & Practice Privileges
  • Public Interest
  • Due Care
  • Case Study: Collin Street Bakery
  • 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 Minnesota law that pertain to CPAs licensed to practice in the state
  • Describe Minnesota 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 (4 hours)

Program Prerequisites
None

Advance Preparation
None

Instructor

Allison McLeod

Professor McLeod, LL.M., JD, CPA, is currently a full-time Senior Lecturer at the University of North Texas, where she has taught classes in Corporate Income Taxes, Multi-jurisdictional Taxes, Individual Taxes, Tax Research, Ethics and Financial Accounting. She has taught as an adjunct professor at the University of North Texas College of Law.

Prior to Professor McLeod going into academia, she worked for 18 years in industry and in a Big Four accounting firm. Professor McLeod earned a law degree from Baylor School of Law, and an LL.M. degree in Taxation from Southern Methodist School of Law. She has been a licensed CPA since 1993 and has been licensed to practice law since 1992. Professor McLeod has enjoyed teaching live ethics course to CPAs since 2011 and is the owner of  www.cpaethicsonline.com, which offers on-line self-study courses to CPAs. She currently serves on the Professional Ethics Committee of the Texas Society of CPAs.which offers on-line self-study courses to CPAs. She served on the Professional Ethics Committee of the Texas Society of CPAs and the AICPA CPA Exam Committee (REG).
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