Often a simple situation may seem innocent, but it can lead to large complications quickly. Conflicts of interest are unavoidable and occur frequently for CPAs in business and industry. What will you do when they happen? Will you take the necessary steps to remain ethical and to protect your license? We will show you how in detail. You and I have a responsibility to our organizations and to the public to be ethical. If you do not follow the prescribed steps, as detailed in the Code of Professional Conduct, there will be problems. Do not forget your duty to the public.
Learning Objectives
- What should we do when confronted with a Conflict of Interest
- To better understand that it is our duty to always be ethical
- To become more familiar with the steps and process prescribed in the Code to deal with Conflicts of Interest
Major Topics
- The multi-step process to address conflicts of interest
- How to remedy threats
- Preparing to defend your actions or inactions
- Causes of conflicts of interest
