Accounting Ethics

Course Outcomes

• Describe how philosophical and psychological theories of ethics apply to decision making in modern accounting
• Understand the nature of business fraud and the concept of good corporate governance
• Describe the various types of audits other than corporate financial statement audits
• Utilize the AICPA Code of Professional Conduct and other auditor independence rules to avoid ethical problems
• Define the external auditor's role in detecting accounting fraud, noncompliances and illegal activities and what assurance they offer their clients and others
• Distinguish the various levels of financial reporting legal liabilities for accountants, auditors and others
• Define earnings management and explain the context in which it occurs and when it is ethical or unethical
• Compare and contrast U.S. and international accounting and ethical standards and corporate governance practices

What You Learn

• Ethical reasoning
• Cognitive processes and ethical decision-making
• Professional judgment in auditing
• Creating an ethical organization environment and effective corporate governance systems
• AICPA code of professional conduct
• Auditing responsibilities
• Accounting fraud
• Legal and regulatory obligations in an ethical framework
• Earning management and the quality of financial reporting
• International financial reporting

How You Learn

• Textbook
• Reading and written assignments
• Case studies
• Instructor commentary
• Classroom discussions