Ethics for Colorado CPAs

Author: Allison McLeod

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 governing CPA practice and responsibilities. It concludes with a section on how a CPA can put his or her ethics into action. This course discusses the Colorado Statutes and Rules that pertain to CPAs licensed to practice in the state of Colorado. Students will become familiar with the Colorado Revised Statutes, the Rules of the State Board of Accountancy, and the Policies adopted by the Board currently in effect and how the statutes, rules, and policies pertain to them.

Publication Date: September 2022

Designed For
Any professional who wants to know Ethics for Colorado.

Topics Covered

• Framework of Ethical Thought
• The Culture of "Me" Mortgage Crisis of 2007-2010
• Toronto Dominion Bank
• Case Study: Ignoring the Whistleblowers
• Codes of Conduct for CPAs
• Behaving Ethically: Putting the Rules into Action
• Colorado Statutes and Rules that pertain to CPAs licensed to practice in the state of Colorado

Learning Objectives

• Identify licensees in ethics of professional accounting as CPAs
• Recognize the intent of the AICPA Code of Professional Conduct and Colorado Rules & Regulations in the performance of professional accounting services/work, not to adhere to the mere technical compliance of such rules
• Describe how to assist the 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
• Differentiate the AICPA Code of Professional Conduct and the Colorado Rules and Regulations and their implications for persons in a variety of practices
• Identify and describe the major normative ethical schools of thought
• Recognize the main steps to a CPA applying threats to independence
• Describe the due care principle under Rule 9.1.D
• Identify how to rebuild moral character
• Recognize when ethical conflicts arise
• Identify signs of an organization on the verge of an ethical collapse
• Differentiate what constitutes an Acts Discreditable
• Describe when a contingent fee for services may be taken

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Regulatory Ethics (4 hours)

Program Prerequisites
None

Advance Preparation
None