The goal of this course is to help you prepare to pass the Professional Ethics Exam (PETH). It does this by reviewing the content and sample questions from prior PETH exams that may be expected to be prominently included in future exams.
The course specifically addresses professional conduct including independence, integrity and objectivity within the AICPA Code of Ethics, taxpayer services within the AICPA Statement of Standards on Tax Services (SSTS), and the California Accountancy Act and Regulations. It gives special attention to independence because it has consistently been the most prominent topic tested in prior exams.
This course is on-demand video only with no written materials, so all examples are within the video.
CPA Candidates, out-of-state CPAs, and those applying for California license reissuance.
Know the major impairments to independence
Recall the seven categories of impairment threats and when the threats have been reduced to acceptable levels
Understand taxpayer services that are considered ethical within IRS guidelines
Be familiar with continuing education requirements for successful license renewal
Know how to protect the confidentiality of client information
Understand restrictions on client employment opportunity
Recall limitations on earning commissions and contingent fees
Know the requirements for accounting firm ownership
Acknowledge the rules for maintaining active and inactive CPA license status