A Basic Ethics Guidebook for Oregon 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 from the AICPA Code of Professional Conduct, and the Oregon Revised Statues, Administrative Rules and Code of Professional Conduct. These sources govern the practice and responsibilities of Oregon CPAs. It concludes with a section on how a CPA can put his or her ethics into action.

Publication Date: March 2022

Designed For
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Topics Covered

• Part I: Framework of Ethical Thought
• Case Study: Paul Daugerdass, former Jenkins & Gilchrist Tax Partner
• Case Study: Theranos
• Part II: Codes of Conduct for CPAs
• Case Study: Valeant
• Case Study: Subordination of Judgment
• Part III: Behaving Ethically: Putting the Rules Into Action
• Oregon Rules
• The Oregon Board of Accountancy
• Use of CPA Designation & Practice Privileges
• Public Interest
• Due Care
• Independence and Objectivity
• Case Study: Surfside Condos
• Confidentiality & Client Records
• Firm Names & Advertising
• Impact of Code Violations
• Case Study: Failure of Objectivity

Learning Objectives

• Recognize how to apply the ethics of professional accounting as CPAs through the analysis of case studies involving both actual situations and hypothetical facts
• Recognize how to apply ethical judgment in interpreting the rules and determining public interest
• Identify how to analyze and apply the AICPA Code of Professional Conduct and Oregon law that pertain to CPAs licensed to practice in the state of Oregon
• Recognize how to apply the Oregon Revised Statues, Administrative Rules and Code of Professional Conduct, and the Policies adopted by the Board currently in effect and how the statutes, rules, and policies pertain to them
• Describe the course of action that would uphold the intent of the rules in the performance of professional accounting services/work, not just to adhere to the mere technical compliance of such rules
• Identify and discuss the rules and their implications for persons in a variety of practices including; CPAs who provide assurance, attest or compilation services and CPAs who provide tax services
• Describe ethical case studies and how they apply to your clients
• Recognize and apply rules of professional conduct
• Describe independence with respect to clients

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Regulatory Ethics (4 hours)

Program Prerequisites
None

Advance Preparation
None