Where there are humans, there will be the temptation to do wrong.
Part 1 begins with the IMA Statement of Ethical Professional Practice that describes the commitment its members uphold to demonstrating ethical conduct within their profession. The overarching principles and four standards of ethical professional practice are listed and a Resolution of Ethical Conflict is included.
Part 2 reveals the perceptions of both male and female accounting chairs concerning the importance of ethics and communication in the accounting curriculum. Surveys showed that there are differences in how males and females communicate and how they view moral values. The use of lease-in/lease-out (LILO) and sale-in/lease-out (SILO) tax shelters is an example of unethical behavior. Clever tax practitioners twisted the law’s provisions in order to minimize their liabilities and maximize profits. Uncover how and why the IRS (Internal Revenue Service) stepped in. Penalties defined by the U.S. Sentencing Commission and standards established through the Sarbanes-Oxley Act of 2002(SOX) are other means to instill ethical behavior. Then examine the type and amount of fraud committed in nonprofit organizations (NPOs). A two-step process for detecting and preventing fraud is described in detail. Lastly, there are also fiduciary duties that directors of NPOs are called upon to adhere to in order to secure the high standards of accountability.
Earn 2 NASBA CPE. This product will be valid for six months from purchase date.