Course Objectives:

• Based on the Virginia Board of Accountancy 2009 Ethics CPE Course Outline to provide the annual requisite 2 hours of CPE in ethics for Virginia licensed CPAs
• Provide an update on current ethics and regulatory developments promulgated by Board of Accountancy and AICPA Professional Ethics Executive Committee (PEEC) including: current BOA disciplinary cases, firm registration requirements and peer review, unlicensed practice, and the disciplinary process
• Practical solutions and analysis of considerations to case scenarios of ethical dilemmas encountered by CPAs in everyday situations, work and social, whether the CPA works in public accounting, industry, government or non-profit areas. 

Course Highlights:

• Provide an update on current ethics and regulatory developments including – firm licensure requirements, unlicensed practice, the peer review process & AICPA standards for peer review, the BOA disciplinary process and myths associated with ethical behavior
• Discussion of future changes in accounting standards – International Accounting Standards Board (IASB) recognized by AICPA and SEC approves release of IFRS proposals – what this means to CPAs.
• Discuss the importance of ethical decision modeling and resolving issues with clients and others to prevent or mitigate the BOA disciplinary process
• Examples of actual BOA disciplinary cases – what went wrong and how BOA addressed the violations
• Case studies approach to practical problems covering six sections (three required and one of remaining three optional) of the AICPA Code of Professional Conduct and the current BOA regulations:
o Accounting Principles
o Responsibilities
o Public Interest
o Contingent Fees, and Commissions and Referral Fees
o Planning and Supervision
o Acts Discreditable
• Present the latest proposed and actual changes made by the AICPA Professional Ethics Executive Committee (PEEC) to the AICPA Code of Professional Conduct including the exposure drafts for Proposed Interpretations 102-7 Other considerations; meeting the objectives of the fundamental principles, and proposed framework for meeting the objectives of the fundamental principles; 101-17 Networks and network firms and proposed new definitions of network and network firms and proposed revised definition – firm.

Course Prerequisites:

• Must be licensed CPA

Course Accreditation:

• Course satisfies the annual two-hour Virginia Board of Accountancy ethics requirement, as well as two hours of the Maryland State Board of Public Accountancy biennial ethics requirements and two hours of CPE in the District of Columbia
• For CPAs dual licensed in Virginia and North Carolina, this course will satisfy the NC State Board of CPA Examiners ethics requirements as long as the CPA works primarily in Virginia
• For CPAs dual licensed in Virginia and Tennessee, this course satisfies the Tennessee State Board of Accountancy ethics requirements as long as the CPA works primarily in Virginia
• For CPAs dual licensed in Virginia and Tennessee, this course satisfies two hours of the Tennessee State Board of Accountancy biennial ethics requirement for CPAs working primarily in Tennessee