A CPA's success is based on a commitment to ethics. A periodic review of ethical reasoning and ethical theory keeps key concepts and duties front of mind, so that the professional is always prepared for tricky requests and challenging situations. Accountants often have to answer really difficult questions and face tough challenges, but they're not always straightforward. In some cases, the ethical choice may be more complicated than the expedient one.
The goal of this course is to refresh you on key ethical concepts and familiarize yourself with the rules of the AIPCA and the Illinois Department of Financial and Professional Regulation (IDFPR).
The concepts discussed in this course emphasize the core values of the accounting profession-including integrity, objectivity, and independence - the central tenets of the AICPA's Code of Professional Conduct align (and are sometimes incorporated into) many states' accountancy codes of professional conduct. By reviewing ethical foundations and tying them to the values and rules of the accounting profession, you will be able to navigate ethical challenges with confidence and uphold the public trust in the profession.
After completing this course, you will be able to:
- recall the definitions of and key concepts related to ethical reasoning and ways they relate to a CPA's work
- recognize the principles of ethical theories, including utilitarian ethics, deontological ethics, stakeholder ethics, and virtue ethics and identify how such theories can be applied in practical situations in life and in business
- recognize certain preeminent core values of accountancy, including integrity, objectivity, and independence
- identify additional core values that you must apply in your professional life
- ·-remember the AICPA's principles, general standards, core values, and conceptual framework as you make decisions when encountering ethical challenges
- recall important rules and guidelines in the Illinois Public Accounting Act and the Illinois Administrative Code sections applicable to public accountancy