This webinar was hosted by Mike Hoffner and Dan Sturm from McKonly & Asbury. This presentation introduced the audience to the structure and background of the new AICPA revised Code of Professional Conduct, provided information on how the AICPA derived the new format, and offered a roadmap of next steps expected from the AICPA on this topic.
Check out our Upcoming Events page for news and updates on our future seminars and webinars at http://www.macpas.com/events/
Code of conduct is a part of ethical practices in any business organisation. A code of Conduct is a Management tool for setting out an organisations values, responsibilities and ethical obligations. It provides guidance for handling different business situations.
Code of conduct is a part of ethical practices in any business organisation. A code of Conduct is a Management tool for setting out an organisations values, responsibilities and ethical obligations. It provides guidance for handling different business situations.
Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.
What Is Business Ethics?
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.
Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.
What Is Business Ethics?
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.
Professional Ethics for CPAs - What the Rules Say and How to Interpret ThemMcKonly & Asbury, LLP
This webinar was hosted by McKonly & Asbury Partners, Janice Snyder and Michael Hoffner and reviewed the structure of the current AICPA Code of Professional Conduct as well as provided an overview of how CPAs in both Public Practice and serving in Industry should interpret the requirements therein. The presenters went through the outline of the Code, explaining where to find various components of the regulations and providing a series of examples to illustrate the application of the framework.
Ethics: Real Life Application of the AICPA Code of Professional ConductMcKonly & Asbury, LLP
This webinar focuses on specific ethical examples related to both public accounting and industry. There is also a discussion on key points in the AICPA Code of Professional Conduct and their application to our daily responsibilities.
An orientation slide deck on the IFAC SMP Committee's Guide to Quality Control for SMPs (QC Guide) that member bodies may use in training and orientation seminars to introduce staff and members to the QC Guide.
ISO14001: what do the key changes mean for business and how should organisati...Ardea International
Organisations that wish to implement ISO14001 or retain certification will have to understand the key changes to the standard. The briefing also covered how to demonstrate compliance with the new 'compliance obligations'
Continous compliance october 2019 webinar (2)Nimonik
Compliance can be broken down into three key questions:
- What are your requirements?
- What actions are you taking to meet your requirements?
- How do you verify the actions are effective?
These seemingly straightforward questions are surprisingly challenging to implement. Ultimately, your compliance program is only as good as your operational discipline which is only as good as your processes. So the real question is - Do your processes revolve around compliance or is compliance an afterthought?
This webinar will discuss the key steps to embed compliance in your processes. You will walk away with a toolkit on how to achieve continuous compliance across your operations.
Key Take-Aways:
- A structure to move from reactive to preventative compliance
- Tools to identify your processes that may have compliance issues
- How to convince upper management that continuous compliance drives efficiency
• Become familiar with the internal audit profession and The Institute of
Internal Auditors (IIA).
• Understand the mandatory IPPF guidance:
• The Mission of Internal Audit,
• the Core Principles for the Professional Practice of Internal Auditing,
• the Definition of Internal Auditing,
• the Code of Ethics, and
• the International Standards for the Professional Practice of Internal
Auditing (Standards).
• Understand the strongly recommended IPPF guidance:
• Implementation Guidance and Supplemental Guidance.
• Understand the attributes of a well-executed risk management model
(process)
• COSO Internal Control Framework
• Describe internal auditors’ compliance and fraud-related responsibilities
related to protecting the organization from regulatory violations.
• Be familiar with selected computer-assisted audit techniques, including
generalized audit software.
• Understand the planning, fieldwork, and reporting processes of an audit
• Learn the elements of a finding and the proper presentation in an audit
report
• Understand quality assurance, how it operates, and why it is important to
the internal audit function.
The new draft of ISO14001 makes some fundamental changes to the current standard. This presentation explores the key strategic changes and legal compliance aspects.
19600 compliance management system guidelinesNimonik
Most organizations have a siloed approach to compliance with environmental, safety, quality, community engagement and other departments managing their compliance issues separately. Increasing fines, penalties and criminal proceedings for non-compliance are driving organizations around the world to change their approach to compliance management. ISO recently introduced a unified compliance management system, 19600. This standard has not yet been widely adopted, but there is a clear trend to try and centralize compliance obligations.
In this webinar, we discuss the best practices and guidelines for compliance management as described in the standard.
You will learn:
- the 7 elements that make up an effective compliance management system - Context of the organization, Leadership, Planning, Support, Operations, Performance Evaluation and Improvement
- In-depth details of each of the 7 elements
- Examples of how you can apply the recommendations at your organization
Presenter - Jonathan Brun, CEO Nimonik
Great ISO 14001 Compliance Obligations and Legal RequirementsNimonik
How to build a great legal register for ISO 14001:2004 or ISO 14001:2015 for meeting elements 4.3.2 or 6.1.3 respectively. Lessons learned from looking at over 1500 legal registers and helping organizations build aspect lists, impacts, hazard analysis and applicability text for their organization.
Similar to Professional Ethics: An Introduction to the Revised Code of Professional Conduct (20)
This webinar is hosted by Michael Hoffner, Partner and Leader of McKonly & Asbury’s Systems and Organization Controls (SOC) practice and Co-Director of the Assurance practice, and Janice Snyder, Partner and Co-Director of the Assurance practice.
This ethics webinar focuses on the 7 threats that could compromise a CPA’s compliance with the AICPA code of professional conduct. Many threats fall into one or more of the following seven broad categories: adverse interest, advocacy, familiarity, management participation, self-interest, self-review, and undue influence.
Ratio Analysis and Business Performance – Why Should I Care – Part 2?McKonly & Asbury, LLP
The webinar is hosted by David Blain, Partner and Director of McKonly & Asbury’s Entrepreneurial Services Group, and Eric Fischer, Benefits Advisor at American Family Life Assurance Company of Columbus (Aflac).
This webinar is a continuation of the first webinar hosted on May 30, 2019. This webinar focuses on debt covenant and leverage ratios most used and reviewed by banks and other lending institutions. The webinar also focuses on how banks and lending institutions view these ratios and how to best prepare and present your business for compliance with these ratios.
Not-For-Profit Organizations: Lessons Learned from Implementation of the New ...McKonly & Asbury, LLP
McKonly & Asbury’s July webinar entitled, “Not-For-Profit Organizations: Lessons Learned from Implementation of the New Financial Reporting Standard” took place on Thursday, July 25, 2019. The webinar was hosted by Gary Dubas, Partner and Director of McKonly & Asbury’s Nonprofit Practice, Janice Snyder, Partner and Co-Director of the Assurance Practice, and Jim Shellenberger, Principal and Leader in the Nonprofit Practice.
2019 State Taxes: Pennsylvania Update and The Multistate Tax ClimateMcKonly & Asbury, LLP
McKonly & Asbury’s June webinar entitled, “2019 State Taxes: Pennsylvania Update and the Multistate Tax Climate” is hosted by Mark Heath, Partner and Director of Tax Services at McKonly & Asbury, and Lindsey Waltemyer, Tax Supervisor. During this webinar, attendees will gain an understanding of the budget provisions and recent tax updates specific to Pennsylvania; receive updates on how various states are reacting to federal tax changes and national trends in sales tax nexus; and receive updates from Harbor Compliance on foreign entity qualification and annual report requirements.
McKonly & Asbury’s April webinar entitled, “Leasing: A New Standard is Finally Here” is hosted by Dan Sturm, Partner; Brett Bauer, Senior Manager; and Tim Showers, Supervisor. During this webinar, attendees will learn how ASC 842 differs from ASC 840; will see illustrative financial statements which highlight exactly what changes as a result of the new standard; and will gain an understanding of what they should be doing now to prepare.
Business Valuation Update & Impact of the Tax Cuts and Jobs ActMcKonly & Asbury, LLP
This webinar is hosted by McKonly & Asbury Principal and Business Valuation Leader, Eric Blocher. The webinar will focus on the following; 1) the three different approaches to valuation, 2) the importance of the Standard of Value, Level of Value, and Premise of Value, 3) the Impact of the Tax Cuts and Jobs Act on business valuation, 4) trends in the valuation industry for accounting for the Act, and 5) new topics that are affecting the business valuation industry.
This webinar will provide you with all of the information you need to know in order to understand and implement the changes made by the Tax Cut and Jobs Act, signed into law in December of 2017. McKonly & Asbury presenters, Mark Heath – Partner, and Charlie Eisenhart – Manager, will be covering corporate tax reform including rate changes, new depreciation rules, and limitations on deductions; flow-through tax reform with a special focus on the new 199A deduction; as well as the changes affecting individuals, including new rate brackets and limits on itemized deductions.
Elaine Nissley, Principal with McKonly & Asbury, will provide an overview of ethical style and perspectives. During the webinar, she will present ethics from a macro, corporate, and individual level and discuss social contracts within organizations. She will also discuss how our personal ethical perspective, the ethical perspective of others, and the organization’s ethical perspective influence social contracts and behavior in the workplace. Elaine will then look at a self-assessment tool which you can use to assess your ethical leadership style and a balanced scorecard to measure and track the corporate ethical environment, as well as some frameworks to help you to make balanced ethical decisions. The webinar will conclude with a review of the state of ethics in the workplace in 2017 and a summary of the Federal Sentencing Guidelines related to the key components of an effective ethics program to protect both the organization and their employees.
McKonly & Asbury’s October webinar is brought to you by Bridgeford Trust Company! Modern trust laws, including directed trust, trust protector, and the newly created family advisor, have revolutionized the trust industry in the United States. During this webinar, David Warren, Chairman of the Board/Co-Founder of Bridgeford Trust Company and President/CEO of Bridgeford Advisors, will highlight how these modern progressive trust laws, found only in a handful of states including South Dakota, have drastically changed how trusts are created and administered, delivering far more control and direction to settlors of trusts, beneficiaries, and their advisors than ever before.
In today’s business environment, organizations have a responsibility to their employees, clients, and customers to ensure the confidentiality, integrity and availability of the critical data that is entrusted to them. Every network is vulnerable to some form of attack. However it is not enough to simply confirm that a technical vulnerability exists and implement countermeasures; it is critical to repeatedly verify that the countermeasures are in place and working properly throughout the secured network. During this webinar, David Hammarberg, Principal, IT Director, and leader of McKonly & Asbury’s Cybersecurity Practice will be joined by Partner, Michael Hoffner and they will lead a discussion on a Cybersecurity Risk Management Program including what it is and how it can prepare your organization for the future.
2018 Pennsylvania Tax Update: The State Budget, Legislation, and Multistate T...McKonly & Asbury, LLP
This webinar was hosted by McKonly & Asbury Senior Tax Manager and SALT Leader, Michael Eby, and Tax Supervisor, Lindsey Waltemyer.
It provides an overview of the enacted 2017-2018 Pennsylvania State Budget; a brief update on recently passed Pennsylvania tax legislation and court decisions of interest; and discusses how states, including Pennsylvania, are addressing these changes at the Federal level in their own respective tax structure.
Not-for-Profit Financial Reporting: How to Convert Your Financial Statements ...McKonly & Asbury, LLP
This webinar was hosted by McKonly & Asbury Partner, Janice Snyder, and Principal, Jim Shellenberger, and addressed the requirements of Accounting Standard Update 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The presenters reviewed the new requirements under this standard and converted a full set of not-for-profit financial statements from the previous requirements to the new requirements. This was a step-by-step, page-by-page review of not-for-profit financial statements.
This webinar was hosted by McKonly & Asbury Partner, Michael Hoffner and Senior Managers, Josh Bantz and Samuel BowerCraft.
The webinar reviewed he new Trust Services Criteria that will be effective for SOC 2 and SOC 3 reports issued after December 15, 2018. The emphasis of this webinar was on evaluating the changes to the criteria, impacts on the report, and processes and procedures for transitioning from the 2016 Criteria to the 2017 Criteria. The presenters looked in-depth at how clients should map their controls from the 2016 Trust Services Criteria to the 2017 Trust Services Criteria including challenges with the new criteria.
The webinar was hosted by McKonly & Asbury Senior Tax Manager, Mike Eby and Senior Audit Manager, Dan Kern, along with special guest, Bonnie Mark, Principal at Delta Development Group, Inc.
The presentation gave an overview of the Federal and Pennsylvania historic preservation tax credit programs for income-producing properties. Specific discussions included: 1) requirements that need to be met for a project to be eligible for the programs, 2) the application process, 3) accounting and cost certifications, 4) tax benefits of participating in the programs, 5) and recent changes to the Federal program due to Tax Reform.
Throughout the presentation, the hosts reviewed case study examples of local and national projects that they have participated in over the years. Developers, contractors, investors, and even businesses outside the real estate industry will find that there may be opportunities for them to participate in the incentives of these programs.
This webinar focused on the ins and outs of purchasing a business. The objectives of this webinar were to provide the attendees with tips and tools to use as a buy side party in a transaction. More specifically, the participants came away with a basic knowledge of how to approach and communicate with targets, how to analyze a target, the due diligence process, and what to expect at close and post-closing of a transaction.
The presenters discussed the process from start to finish with a focus on the following areas:
- What do you want to be and where do you want to go? – First step is to identify the type of business that best fits your overall business plan and strategy (culture, size, business lines, etc.).
- Preliminary process – How to identify targets, use of professionals, development of a professional, and internal advisory team.
- Transaction process – Initial discussions, development of an LOI, transaction type, and due diligence.
- Closing process – Purchase document, delivery of assets or working capital, and final adjustments.
- Post-closing – Now What?
This webinar discussed the purpose of data analytics and how it can be a light in the darkness for your organization to make better decisions for the future. The webinar covered the purpose of data analysis and its definition, the fundamental steps to take to perform data analysis to problem solve, and closed with next steps that attendees can take to further develop data analysis and business intelligence within their organizations.
During this webinar, attendees learned about the following:
- How data analytics functions to help your organization improve.
- The process for using data analytics to solve problems.
- Next steps to take to build data analysis within your organization.
As a follow up to the webinar we did in December, this webinar will dig in a little deeper into what we believe are the most impactful and relevant aspects of the Tax Cuts and Jobs Act of 2017 for both individuals and businesses. We will also identify planning opportunities for businesses to ensure that opportunities for tax minimization are realized and pitfalls are avoided.
During the webinar, participants will understand how the potential tax legislation will affect themselves individually, their families, their businesses, and how to plan for future tax liabilities.
This webinar presented a broad overview of pending tax legislation and provided details on how the current Federal tax legislation proposals will affect individuals, families, and small and large businesses. The presenters also identiied planning opportunities for businesses to ensure that opportunities for tax minimization are realized and pitfalls are avoided.
Participants will understand how the potential tax legislation will affect themselves individually, their families, their businesses, and how to plan for future tax liabilities.
Preparing to Buy or Sell? Topics and Tips for a Successful TransitionMcKonly & Asbury, LLP
This webinar was geared to those in the process of business transition. Whether looking to sell your business, transition your business to a future generation, or expand your business through acquisition, this webinar focused on key concepts from a financial and tax structure that all business owners should consider in advance of any business related transition. The webinar discussed matters of preliminary planning and preparation for transition, understanding business value, tax consequences and tax structuring matters, pitfalls to avoid, and other unintended consequences.
Protecting Your Contract Receivables – PA Mechanics Lien Law and Payment Bond...McKonly & Asbury, LLP
Get up to speed on the recent changes in the PA Mechanics Lien Law and hear an important discussion on how you can best protect your rights to payment. This webinar will also cover some guidelines on asserting payment bond claims, and pointers on how to best exercise contractual and statutory remedies promptly so as not to endanger receivables. Finally, the session will cover details on how to evaluate at-risk receivables subject to each of the noted remedies and how to accurately and properly evaluate the financial reporting for such items.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Professional Ethics: An Introduction to the Revised Code of Professional Conduct
1. October 2014
Webinar Professional
Ethics:
An Introduction to
the Revised Code of
Professional Conduct
2.
3.
4. PROFESSIONAL ETHICS: AN
INTRODUCTION TO THE REVISED
CODE OF PROFESSIONAL
CONDUCT
Michael Hoffner, Partner
Daniel Sturm, Principal
5. ABOUT US
Michael Hoffner
• Partner
• McKonly & Asbury
Daniel Sturm
• Principal
• McKonly & Asbury
6. PROGRAM OUTLINE
Standard Setting Process
Changes to the Code of Professional Conduct
Enforcement Process
7. STANDARD SETTING PROCESS
AICPA Professional Ethics Division
• PEEC: Professional Ethics Executive Committee
• Senior committee of the AICPA, charged with interpreting / enforcing the
AICPA Code of Professional Conduct (The Code)
• Also charged with promulgating new interpretations and rulings,
monitoring existing rules, and making revisions as needed.
• Roots traced back to the “American Association of Public Accountants’
Committee on Ethics” – formed in 1906
8. STANDARD SETTING PROCESS
• PEEC’s Standard Setting Process
• Quarterly meetings, which are open to the public
• Deliberates emerging issues and those brought to its attention via
member inquiry
• Maintains a Three-Year agenda
• Exposure drafts issues with at least 60 days of open comment
period prior to publishing new standards
9. THE REVISED CODE
Existing Code adopted in early 1970’s
• Updated over time, with interpretations issued, but no significant
changes.
• AICPA recognized, based on user input, that a full overhaul was
necessary to:
• Create a more intuitive structure
• Allow easier, faster searching
• Speak more clearly to CPA’s working in different areas
10. THE REVISED CODE
In 2012, Pilot Testing performed over the tentative restructured Code
Result of Pilot Testing was an Exposure Draft, issued April 15, 2013
• Organized by Topic based on a Conceptual Framework approach
• 3 Parts
• Members in Public Practice
• Members in Business
• All other members (retired, unemployed)
11. THE REVISED CODE
The proposed Conceptual Framework will incorporate two
interpretations – one for members in public practice and another
similar one for members in business.
• Additionally, for those providing attest services, there is a conceptual
framework focused on specific threats to independence.
• These are designed to provide assistance for circumstances where no
specific guidance exists.
12. THE REVISED CODE
After consideration of responses to Exposure Draft, PEEC approved a
revised Code on January 28, 2014, to be effective December 15, 2014.
• New conceptual frameworks and related interpretations will not be
effective until December 15, 2015
• Revised code launched on June 2nd, with early adoption encouraged.
13. THE REVISED CODE
Significant changes in the revised code include
• Organization:
• The prior code was organized by rule, with chronological listing of
interpretations and rulings (if any).
• The revised code is organized more intuitively
• Separates guidance by line of business, then by topic
• Where necessary, Topics are broken into subtopics and sections
14. THE REVISED CODE
Significant changes in the revised code include
• Conceptual Frameworks
• Incorporate a “Threats and Safeguards” approach, designed to assist users in
analyzing relationships and circumstances that the code does not specifically
address
• Under this approach, users:
• Identify threats to compliance with the rules
• Evaluate the significance of those threats to determine if it is at an acceptable
level
• If not at an acceptable level, users apply safeguards to eliminate the threats or
reduce them to an acceptable level
16. THE REVISED CODE
Significant changes in the revised code include
• Content
• Redrafted using consistent style and to reflect the conceptual framework
approach
• Expanded to include references to nonauthoritative guidance issued by
the Professional Ethics Division
• Format
• Electronic format designed for search capability, “link creation” and the
ability to create a date-stamped PDF
17. THE REVISED CODE
Preface All Members
• Responsibilities principle In carrying out their responsibilities as professionals, members should
exercise sensitive professional and moral judgments in all their activities.
• The public interest principle Members should accept the obligation to act in a way that will serve
the public interest, honor the public trust, and demonstrate a commitment to professionalism.
• Integrity principle To maintain and broaden public confidence, members should perform all
professional responsibilities with the highest sense of integrity.
• Objectivity and independence principle A member should maintain objectivity and be free of
conflicts of interest in discharging professional responsibilities. A member in public practice should
be independent in fact and appearance when providing auditing and other attestation services.
18. THE REVISED CODE
Preface All Members
• Due care principle A member should observe the profession’s
technical and ethical standards, strive continually to improve
competence and the quality of services, and discharge professional
responsibility to the best of the member’s ability.
• Scope and nature of services principle A member in public practice
should observe the Principles of the Code of Professional Conduct in
determining the scope and nature of services to be provided.
19. THE REVISED CODE
Part 1 Members in Public Practice
• Public Practice: the performance of professional services for a client by a member or a
member’s firm. Also includes Governmental Auditors working in a gov’t organization
• Framework:
A. Identify threats
• Relationships or circumstances that could compromise a member’s compliance with the rules.
B. Evaluate the significance of a threat
• Acceptable level. A level at which a reasonable and informed third party who is aware of the relevant
information would be expected to conclude that a member’s compliance with the rules is not compromised.
C. Identify and apply safeguards
• Actions or other measures that may eliminate a threat or reduce a threat to an acceptable level
20. THE REVISED CODE
Many threats fall into one or more of the following seven broad categories:
• Adverse Interest
• Advocacy
• Familiarity
• Management Participation
• Self-Interest
• Self-Review
• Undue Influence
21. THE REVISED CODE
Safeguards that may eliminate a threat or reduce it to an acceptable level fall
into three broad categories:
• Safeguards created by the profession, legislation, or regulation.
• Safeguards implemented by the client. It is not possible to rely solely on
safeguards implemented by the client to eliminate or reduce significant
threats to an acceptable level.
• Safeguards implemented by the firm, including policies and procedures to
implement professional and regulatory requirements.
22. THE REVISED CODE
Part 2 Members in Business
• Structured very similar to Part 1
• Threats / Safeguards similar, tailored more towards individuals in
business vs. public practice
Both parts followed by detailed interpretations broken down into
broad categories and scenarios to provide specific answers and
guidance.
23. ENFORCEMENT PROCESS
Joint Ethics Enforcement Program (JEEP)
• “The purpose of the JEEP agreement between the AICPA and a state
society is to permit joint enforcement of their respective codes of
professional conduct with respect to a member of either or both by
means of a single investigation and, if warranted, a single settlement
agreement or joint trial board hearing.”
(JEEP Manual of Procedures, Dec. 2006)
24. ENFORCEMENT PROCESS
Summary of the JEEP process
• Complaint is filed
• Preliminary inquiry and analysis
• Respondents are identified
• Case investigator is assigned
• Opening letters are sent to respondents
• Evidence and interviews are collected
• Case is presented to the committee
• Committee votes on case and outcome
25. ENFORCEMENT PROCESS
Possible conclusions of an investigation
No violation
• If there is no evidence of a violation, the investigation will be closed.
Required corrective action (RCA)
• The actions generally include CPE or pre-issuance reviews of engagements.
Settlement agreement
• In lieu of referring the case to the Joint Trial Board, the committee may, at its discretion, choose to
offer the respondent a non-negotiable settlement agreement.
Referral to the Joint Trial Board (JTB)
• The panel may find a respondent not guilty or, if a guilty verdict is issued, may expel or suspend the
respondent’s membership, admonish the respondent, or take additional action as it considers
appropriate. A respondent may appeal a guilty verdict.
Note – in some cases an identified threat may be so significant, no safeguard will eliminate it, as such providing the service would violate compliance – should determine if need to decline or discontinue the professional service.
Refer to page 26+ of the Code
See page 29+ for discussion points
Spend XX minutes reviewing the various breakdown of interpretations and scenarios
Complaint is filedComplaints can be filed by a member of either organization or by the public. Alternatively, they can come to the attention of the committee from federal, state, and local governments; newspaper articles or media reports; or public decisions of judicial and regulatory authorities
Respondents are identifiedJEEP ethics cases may only be brought against members of one or more participating CPA societies
Case investigator is assignedOne member of the committee will serve as the case investigator and primary liaison with respondents. All correspondence related to the case is sent to the case investigator.
Opening letters are sent to respondentsEach respondent is sent a letter informing them of the investigation, the specific violations of the Code of Conduct alleged by the complaint, and questions to be answered or documents to be provided. Respondents are required to respond to the opening letter, generally within 30 days.
Evidence and interviews are collectedThe case investigator will gather evidence from the respondents. In addition, all respondents will be given the opportunity for an interview to discuss the investigation and offer additional evidence.
Case is presented to the committeeOnce the investigator has collected and evaluated the relevant evidence, a summary of the case will be presented to the committee. The committee will review the evidence and issue a decision as to whether there is prima facie evidence of a violation of the Code of Professional Conduct.
No violationIf there is no evidence of a violation, the investigation will be closed.
Required corrective action (RCA)If there is evidence of a minor infraction, the committee may choose to offer the respondent a letter specifying corrective actions that should be undertaken. The actions generally include CPE or pre-issuance reviews of engagements.
Settlement agreementIn lieu of referring the case to the Joint Trial Board, the committee may, at its discretion, choose to offer the respondent a non-negotiable settlement agreement. The agreement will specify whether it may be published as directed by AICPA and PICPA bylaws. A respondent may reject the non-negotiable settlement agreement, but will then be subject to a Joint Trial Board hearing.
Referral to the Joint Trial Board (JTB)If there is evidence of a violation, and the parties do not agree on one of the above options, the case will be referred to the JTB for a panel hearing. The panel may find a respondent not guilty or, if a guilty verdict is issued, may expel or suspend the respondent’s membership, admonish the respondent, or take additional action as it considers appropriate. The decision of the JTB will be published under AICPA and PICPA bylaws. A respondent may appeal a guilty verdict.