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WHAT DOES “PUBLIC INTEREST” MEAN?<br />NASBA 2011 Regional Meetings<br />June 10, 2011 – Omaha, NE<br />June 24, 2011 – Po...
Ethics and StrategicProfessional Issues Committee<br />Committee Co-Chairs<br />Rick David, CPA<br />Gaylen Hansen, CPA<br...
Assumptions<br />A profession is different from an occupation.<br />As professionals, CPAs have an obligation to behave in...
Key Questions<br />As a profession, have we engrained a thought process that helps CPAs identify conflicts of interest?<br...
Key Questions<br />How important is the “public interest” in the average culture within CPA firms?<br />Does firm size aff...
Key Questions<br />How important is the “public interest” in the culture for CPAs in industry?<br />Do CPAs in industry ha...
Key Questions<br />Is the public well served when CPAs conclude that, if it’s legal, it’s ethical?<br />7<br />
Key Questions<br />Are there steps that NASBA should take to heighten the awareness of the “public interest” in the work t...
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What Does Public Interest Mean - Dr. Raymond Johnson - Friday - Regionals 2011

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Transcript of "What Does Public Interest Mean - Dr. Raymond Johnson - Friday - Regionals 2011"

  1. 1. WHAT DOES “PUBLIC INTEREST” MEAN?<br />NASBA 2011 Regional Meetings<br />June 10, 2011 – Omaha, NE<br />June 24, 2011 – Point Clear, AL<br />Dr. Raymond Johnson, CPA<br />1<br />
  2. 2. Ethics and StrategicProfessional Issues Committee<br />Committee Co-Chairs<br />Rick David, CPA<br />Gaylen Hansen, CPA<br />Public Interest Subcommittee<br />Raymond Johnson, CPA, Subcommittee Chair<br />Gary Forte, Public Member<br />Chad Singletary, CPA<br />Cecil Wood, Public Member<br />2<br />
  3. 3. Assumptions<br />A profession is different from an occupation.<br />As professionals, CPAs have an obligation to behave in accordance with a “social contract” with the public that transcends any employment relationship with a client or an employer.<br />For CPAs in CPA firms, there is an identifiable public that has an interest in a CPA’s work that may differ from engagement to engagement.<br />Every CPA will have times in his or her career when they have to balance their firm’s profitability, with a responsibility to a client, with a differing responsibility to the public.<br />3<br />
  4. 4. Key Questions<br />As a profession, have we engrained a thought process that helps CPAs identify conflicts of interest?<br />What is that thought process like?<br />4<br />
  5. 5. Key Questions<br />How important is the “public interest” in the average culture within CPA firms?<br />Does firm size affect the view/consideration of the “public interest?”<br />5<br />
  6. 6. Key Questions<br />How important is the “public interest” in the culture for CPAs in industry?<br />Do CPAs in industry have the support and tools to recognize conflicts of interest and act in the public interest?<br />6<br />
  7. 7. Key Questions<br />Is the public well served when CPAs conclude that, if it’s legal, it’s ethical?<br />7<br />
  8. 8. Key Questions<br />Are there steps that NASBA should take to heighten the awareness of the “public interest” in the work that CPAs do?<br />8<br />
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