Ethics for DelawareCode: 24-EDE

This  is  a Delaware  ethics  course  covering  standards  of  professional  conduct  and  business  practices  adhered to by accountants such as CPAs in order to enhance their profession and maximize idealism, justice and fairness when dealing with the public, clients and other members of their profession. It also presents  an  approach ‐‐the  threats  and  safeguards  approach  –to  coping  with  ethical  dilemmas.  The  Sarbanes‐Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized.  

Chapter 3 discusses specific rules and regulations for Delaware CPAs.

Objectives:

After completing this course, you will:

• Define ethics.
• Differentiate between amoral and ethical values.
• List and characterize two systems of ethics.
• Differentiate between legal versus ethical codes
• Discuss ethical reasoning used by accountants.
• Illustrate ethical dilemmas encountered by accountants.
• Differentiate between rulings and principles of the AICPA Code of Professional Conduct
• Briefly describe the six principles and list the eleven rules of the AICPA Code of Professional Conduct
• Outline ethics rulings on independence.
• Resolve ethical dilemmas using the threats and safeguards approach, a conceptual framework.
• List the key features of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence.
• List consulting services prohibited by the Sarbanes-Oxley (SOX) Act of 2002.
• Explain licensing and disciplinary mechanisms within the profession.
• Outline the Standards for Tax Services.
• Discuss cases of ethical violations.
• Discuss Delaware statutes and regulations governing the practice of public accountancy
• Outline the professional ethics and conduct for Delaware CPAs.