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 Virginia Statutes and Administrative Code as well as the AICPA Code of Professional Conduct governing CPA practice and responsibilities. To illustrate these rules, this course will examine a number of real-life case studies.

COURSE OBJECTIVES

 1. To educate Virginia licensees in ethics of professional accounting as CPAs.

2. To convey the intent of the Virginia Statutes and Administrative Code as well as the AICPA Code of Professional Conduct and/or specific state board rules in the performance of professional accounting services/work, not to adhere to the mere technical compliance of such rules.

3. To assist the Virginia 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.

4. To review and discuss the Virginia Administrative Code and Regulations and the AICPA Code of Professional Conduct and their implications for persons in a variety of practices, especially: