Regulatory Ethics Guidebook for Tax and Accounting Professionals

Author: Allison McLeod

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

This course covers the dangers of the clean hands dilemma and specific rules governing CPA practice and responsibilities. It concludes with a section on how a CPA can manage ethical conundrum. A CPA is challenged in today’s work world to not only serve clients or an 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 themselves in a dilemma of determining the correct course of action. This course also covers additional practice standards expected of tax specialists. Join speaker and author, Allison M. McLeod, LL.M., CPA, as she educates and informs CPAs on rules and regulations covering CPA practice standards and their duty to the public! As part of this course, we will also look at real world examples of individuals and companies faced with moral dilemmas.

Publication Date: May 2024

Designed For
CPAs in client practice of public accountancy who perform attest and non-attest services, CPAs employed in industry who provide internal accounting and auditing services, and CPAs employed in education or in government accounting or auditing.

Topics Covered

• Countering the Clean Hands Dilemma
• Knowing the difference between moral actions vs. ethical rules
• CPA rules and responsibilities
• Managing ethical conundrums
• AICPA Code of Professional Conduct
• Treasury Circular 230
• Internal Revenue Code penalties for tax practitioners
• AICPA Statement of Standards of Tax Services

Learning Objectives

• Determine the correct course of action when moral and ethical paths diverge
• Identify the CPA's duty to the public and when it takes priority over the wishes of the CPA's employer or client
• Describe the ethical obligations of a professional accountant
• Recognize the intent of the AICPA Code of Professional Conduct and other codes governing CPAs in the performance of professional accounting services/work
• Recognize the AICPA Code of Professional Conduct and their implications for persons in a variety of practices
• Identify how to educate licensees in ethics of CPAs and tax practitioners
• Identify how to convey the intent of the AICPA Code of Professional Conduct, Treasury Circular 230, the Statement of Standards for Tax Practice and the Internal Revenue Code in the performance of professional services, not to adhere to the mere technical compliance of such rules
• Identify how to assist the CPA in applying 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 review and discuss the authorities governing CPAs and tax practitioners and their implications for persons in a variety of practices, including CPAs in client practice of public accountancy who perform attest and non-attest services; CPAs employed in industry who provide internal accounting and auditing services; CPAs employed in education or in government accounting or auditing

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Regulatory Ethics (4 hours)

Program Prerequisites
None

Advance Preparation
None