CPE Session 35: Sunday, August 5, 1:00 PM – 4:30 PM

Update on Independence and other Ethics Rulings by the AICPA and State Boards of Accountancy
[Session Cancelled]

(Regulatory Ethics)

Description/Objectives:
In the past year, the AICPA Professional Ethics Executive Committee has issued several new rulings that will dramatically change the way CPAs will practice. These rulings have deep implications in both the large audit engagement and the small tax or accounting engagement. In addition, there are several proposed rulings that have sometimes been received as highly controversial and have been met with much resistance and debate.

State Boards of Accountancy have also been more involved than ever in monitoring practitioners, investigating complaints, and issuing sever disciplines. Many states now require all practitioners to take ethics courses that include AICPA rules as well as state specific laws.

Particular emphasis will be placed on the Independence conceptual framework, the first major principles based ethics ruling, and Interpretation 101-3, which has been debated over several years and been through three versions in the past five years.

The program will present the rulings and how practitioners are likely to implement them. Participants will be encouraged to discuss their strengths and weaknesses.

Presenter:
Kenn Heaslip, Seton Hall University

Note: CPE fields of study are in parentheses