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2007 Ethics CPE Course Outline

Available in PDF Format

Updates on current ethics and regulatory developments (15 - 25 minutes*):
- Virginia Board of Accountancy (BOA)
  - Practice without a current license
    - Checking BOA website for license expiration date
  - BOA disciplinary process**
  - Importance of resolving issues with clients and others
    - Complaint remains on CPA’s record permanently
  - Handouts of actual BOA enforcement cases (new cases for 2007)**
- Process followed by BOA for regulatory changes**
- AICPA Professional Ethics Executive Committee (PEEC)
  (CPE providers should ensure that topics presented cover all recent significant PEEC activity.)
Core Content (75 - 90 minutes*)
(These topics should be covered by referring to relevant BOA regulations and AICPA Code of Professional Conduct sections. Practical situations and potential solutions must be included and illustrated with short scenarios or simulations.)

Required:
- Integrity and Objectivity – BOA regulation 18 VAC 5-21-120 C and Article III and Rule 102 of the AICPA Code of Professional Conduct
- Professional Competence – BOA regulation 18 VAC 5-21-120 E and Rule 201 A of the AICPA Code of Professional Conduct
- Planning and Supervision – BOA regulation and Rule 201 C of the AICPA Code of Professional Conduct.
One of following three is required:
- Independence – BOA regulation 18 VAC 5-21-120 D and Article IV and Rule 101 of the AICPA Code of Professional Conduct
- Public Interest – BOA regulation 18 VAC 5-21-120 A
- Responsibilities – BOA regulation 18 VAC 5-21-120 A
Process for ethical decision making (5 minutes*)
(A handout should be provided.)

Note: CPE providers should provide a copy of this outline to each participant. It is recommended that CPE providers make cases and other materials available to participants in advance, e.g., by posting them on provider websites.

Relevant websites:

For Virginia Board of Accountancy information (e.g., Board regulations): www.boa.virginia.gov
For AICPA information on fraud issues in different areas of practice: antifraud.aicpa.org/Resources/
For AICPA information on state mobility licensing requirements (i.e., interstate practice issues): www.aicpa.org/download/states/State_Mobility_Licensing_Requirements.pdf

* Time allocations are suggestions only. Times allocated to the Core Content subjects may vary depending on the appropriate emphasis for the target audience (e.g., CPAs in public practice versus CPAs in private industry or government).

** Available to CPE providers by contacting the Virginia Board of Accountancy Office at 804-367-8505.