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AICPA Ethics Certification Course (Module 1) Exam With 100% Correct And Verified Answers
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AICPA Ethics Certification Course (Module 1) Exam With 100% Correct And Verified Answers
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AICPA Ethics Certification Course (Module1) Exam With 100% Correct And Verified
Answers
Recognizing Ethical Matters (Ethical Decision
Making Model) - Correct Answer-- familiar
with professions body of rules and regulation
(and changes to those rules)
- attuned to potential ethical warning signs
- know how to analyze a matter (looking at
diff perspectives while maintaining
confidentiality)
- always consider sensitivity of into to prevent
breach of confidentiality
Steps in Ethical Decision Making - Correct
Answer-1. Recognize ethical issue
2. Gather all critical facts
3. Identify all stakeholders
4. Consider alternatives
5. Consider effects on stakeholders
6. Consider your comfort level (how decision
reflects your ethics)
7. Consider rules, regulations, and laws
8. Make a decision
9. Document efforts
10. evaluate outcome
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, The "Public Practice" Accounting
Professionals - Correct Answer-- procide
audit, tax compliance, and consulting services
to public companies
The "Business" Accounting Professionals -
Correct Answer-- working/ volunteering for
commercial or not for profit orgs
- employed by govt sector (federal, state,
local)
- responsible for accounting, finance, and
internal audit
AICPA - Correct Answer-- American Institute
of Certified Public Accountants
- the national professional organization of
CPAs
- created professional ethical executive
committee (PEEC) that creates and enforces
ethics and independence among all members
SEC - Correct Answer-- Securities and
Exchange Commission
- an independent federal agency that
oversees, established, and enforces
accounting and audit policy
- mission is to improve professional
performance of public company auditors
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