AICPA Ethics Exam With 100% Correct And Verified Answers
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Course
AICPA Ethics
Institution
AICPA Ethics
AICPA Ethics Exam With 100% Correct And Verified Answers
Ethical Decision Making Model - Correct Answer-helps you actively work through gray area and choose the best possible solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify t...
AICPA Ethics Exam With 100% Correct
And Verified Answers
Ethical Decision Making Model - Correct Answer-helps you
actively work through gray area and choose the best possible
solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify the stakeholders
Step 4: Consider your alternatives
Step 5: Consider the effect on stakeholders
Step 6: Consider your comfort level
Step 7: Consider rules, regulations and laws
Step 8: Make a decision
Step 9: Document your efforts
Step 10: Evaluate the outcome
Step 1 - Correct Answer-Recognize the ethical issue
Step 2 - Correct Answer-Gather the critical facts
-you may not have all the facts, but you need the key ones
(material)
Step 3 - Correct Answer-Identify the stakeholders
-who is affected by your decisions/actions
-consider as many as possible
Step 4 - Correct Answer-Consider your alternatives
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,-approaches you could take to address this matter and resolve the
ethical conflict
Step 5 - Correct Answer-Consider the effect on stakeholders
-effect of each alternative
Step 6 - Correct Answer-Consider your comfort level
-how comfortable are you with each option
-how would you feel if you have to discuss your decision in public
Step 7 - Correct Answer-Consider rules, regulations, and laws
-rules set by AICPA, state accountancy board, state CPA society
Step 8 - Correct Answer-Make a decision
-take the time you need
-discuss with colleague, gain perspectives, counsel, don't be
hasty
Step 9 - Correct Answer-Document your efforts
-your understanding of the facts
-who you consulted with and their professional affiliations
-your decision
Step 10 - Correct Answer-Evaluate the outcome
-would you have done anything differently
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, Professional & Regulatory Bodies - Correct
Answer-set ethics standards and rules for
members of the accounting profession
State CPA Licensing Boards - Correct Answer-
issues CPA licesnes and oversee ethical
conduct of jurisdiction
AICPA - Correct Answer-American Institute of
Certified Public Accountants
national professional organization for all
CPAs; work with state CPA societies
-PEEC: Professional Ethics Executive
Committee promulgates and enforces ethics
and independence rules that apply to all
members
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