A Basic Ethics Guidebook for Minnesota 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 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


  1. To apply
    the ethics of professional accounting as CPAs through the analysis of case
    studies involving both actual situations and hypothetical facts. 
  1. To 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. 
  1. To analyze and apply the AICPA
    Code of Professional Conduct
    and Minnesota law that pertain to CPAs licensed to practice in the state.
    Students will become familiar with the 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 pertain to
  1.  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. 
  1. To
    review and discuss the rules and their implications for persons in a
    variety of practices, including: 

a.      CPAs who provide
assurance, attest or compilation services.

b.      CPAs who provide tax services.