A CPA is challenged in today's work world to not only serve the 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 himself or herself in an ethical dilemma. This course covers not only some basic ethical frameworks, but also specific rules from the Virginia Administrative Code and Regulations and 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.

The objectives of this course are:

• to educate Virginia licensees in ethics of professional accounting as CPAs
• to convey the intent of the Virginia Administrative Code and Regulations and the AICPA Code of Professional Conduct in the performance of professional accounting services/work, not merely to adhere to the technical compliance of such rules
• to assist the Virginia CPA in applying ethical judgment in interpreting the rules and determining public interest, which should be placed ahead of self-interest, even if it means a loss of job or client
• 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, 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