Ethics
Moral Principles that govern a persons behavior or conducting of activity
What is ethics?
A non for profit created by Sarbanes-Oxley Act of 2002 to oversee accounting professionals.
What is the PCAOB?
AICPA stands for.
What is American Institute of Certified Public Accountants?
This is the RADAR method
What is
Research: Facts/ID dilemma
Analyze: Cognitively consider situation
Decide: Settle on ‘best’ course of action
Act: Respond to situation
Reflect: Reconsider/learn from the situation
Defined as a set of values, norms, and artifacts that members of an organizations share.
What is corporate culture?
A set of principles of conduct within an organization that guide decision making and behavior.
What is a code of ethics?
PCAOB is what this stands for
What is Public Company Accounting Oversight Board?
Member should exercise sensitive professional and moral judgements is what type of principal?
What is Responsibility Principle?
Consequentialism, Utilitarianism, and egoism are all.
What are the Results theory?
A member accepts a gift or unusual consideration from a client.
If member is related to a client
Has a financial interest in a client
When would independence be impaired?
Everyone
Who has a code of ethics?
This is when independence is impaired according to PCAOB Interpretation of its rules.
What is if during the period of the professional engagement a covered member
Had or was committed to acquire any direct or material indirect financial interest in the client
Had his/her immediate family, or any group of such persons owned more than 5% of a client’s outstanding equity securities or other ownership interests
This is what the AICPA's interest principle stands for?
What is to maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity?
This theory focuses on each individual member of society and his/hers rights.
What is the Rights theory?
An act created largely in response to widespread corporate accounting scandals
What is the Sarbanes-Oxley Act?
Maintain an appropriate level of professional leadership and expertise by enhancing knowledge and skills
What is Competence ethical standard?
Establishing auditing, quality controls, ethics, independence, and other standards relating to public company audits.
What are the responsibilities of the PCAOB?
The AICPA was founded in this year.
What is 1887?
This is what the Reputation theory focuses on.
What is the virtue and a state of character rather than the action- you are the sum of your actions?
This is how many members the AICPA has in the United States?
What is 418,000?
Keep this type of information private except when disclosure is authorized or legally required?
Confidential Information
In the performance of any professional service a member shall maintain objectivity and integrity, shall be free of conflicts of interest and shall not knowingly misrepresent facts.
What is section 102 integrity and objectivity?
These are the steps to decision making according to the AICPA
Identify Threats
Evaluate Threats
Identify and Apply Safeguards
Types of threats
Justice is the main focus of this theory?
Exposing an employer's wrongdoing to outsiders such as the media or government regulatory agencies?
What is whistle-blowing?