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Preserving Independence and Otherwise Complying with the New AICPA Code of Professional Conduct (417
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The AICPA Code of Professional Conduct has undergone significant changes in the past few years—and there are additional changes that are effective as of 2016, to coincide with the effective date of SSARS No. 21. Among other changes, the Code provides separate sections for CPAs in public practice, CPAs in industry and for CPAs who may not be working in such a capacity, including educators.

5/16/2017
When: Tuesday, May 16, 2017
9:30 AM - 1:00 PM
Where: Webinar/Webcast
United States
Contact: April Deneault
801-466-8022


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Description

The AICPA Code of Professional Conduct has undergone significant changes in the past few years—and there are additional changes that are effective as of 2016, to coincide with the effective date of SSARS No. 21. Among other changes, the Code provides separate sections for CPAs in public practice, CPAs in industry and for CPAs who may not be working in such a capacity, including educators. It also introduces two conceptual frameworks for the CPA to apply, one in relation to the overall Code of Conduct and one specifically related to the evaluation of independence.

Examine a CPA's independence when performing nonattest services for an attest client and the recently redefined types of activities and services that impair a CPA's independence. Learn about the seven potential threats to independence; the means of evaluating when those threats exceed an acceptable level; how to identify and evaluate existing safeguards; and how to develop additional safeguards.

Finally, we'll address how a CPA might document compliance with ethical requirements to enhance the CPA's system of quality control and satisfy peer reviewers.

Materials are provided as an ebook.

 

Subjects

  • Recent codification of the AICPA Code of Professional Conduct
  • Conceptual frameworks associated with the new Code for CPAs in public practice and in industry
  • Types and characteristics of nonattest services that may not be performed by a CPA without impairing independence in relation to the client
  • Seven threats to independence resulting from a CPA's relationship with a client.

Objectives

  • Recognize applicable ethical conceptual frameworks for CPAs in public practice and in industry, and how to apply judgement in determining when a violation has occurred.
  • Identify specific nonattest services and the types of services that impair independence.
  • Recognize when independence is preserved when performing allowable, nonattest services.
  • Recognize existing independence safeguards and determine any additional safeguards.

Designed for

Public practice or industry CPAs who wish to understand and comply with the newly revised AICPA Code of Professional Conduct with an emphasis on the CPA's independence.

Biography

Mark Dauberman taught his first university accounting class in 1969 and has been involved in accounting education since having taught at CSUN, CSULA, UCLA, and Loyola Marymount University. He obtained his bachelors degree in accounting from California State University at Northridge (CSUN) in June of 1970. In 2010, he completed the Executive MBA program at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he had been a student of Dr Drucker in 1971. Mark's public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark's industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam Mark currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include applying the risk assessment standards, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management. In addition to numerous CPE courses and articles, Mark authors the CCH publication Knowledge-Based Compilations & Reviews. He also provides consulting services to CPA firms, providing assistance on matters involving strategic planning; partner compensation issues; client management; and the planning, performance, and review of financial statement services.

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