Topic 1: Introduction to Ethics and Independence
- Importance of Ethics in Professional Accounting
- Rule-based vs. Principle-based Theories
- Need for Ethics in Accounting
- Ethical Dilemmas and Rationalization of Unethical Behavior
- Case Study: Ethical Conflict in Financial Reporting
Topic 2: Structure of the Code of Ethics
- Part 1: Complying with the Code and Fundamental Principles
- Part 2: Professional Accountants in Business
- Part 3: Professional Accountants in Public Practice
- Part 4: Independence Standards
Topic 3: Fundamental Principles of Ethics
- Integrity
- Fair dealing, truthfulness, and strength of character
- Objectivity
- Avoiding bias, conflicts of interest, and undue influence
- Confidentiality
- Respecting and safeguarding confidential information
- Professional Competence and Due Care
- Maintaining professional knowledge and skill
- Professional Behavior
- Complying with laws and avoiding discreditable conduct
Topic 4: Conceptual Framework and Threats to Compliance
- Conceptual Framework Overview
- Evaluating and Addressing Threats
- Self-interest Threats
- Self-review Threats
- Advocacy Threats
- Familiarity Threats
- Intimidation Threats
- Safeguards to Mitigate Threats
Topic 5: Ethical Issues in Professional Practice
- Conflicts of Interest (Section 210)
- Presentation and Preparation of Information (Section 220)
- Acting with Sufficient Expertise (Section 230)
- Financial Interests and Compensation (Section 240)
- Inducements, Gifts, and Hospitality (Section 250)
- Non-compliance with Laws and Regulations (Section 260)
- Pressure to Breach Fundamental Principles (Section 270)
Topic 6: Independence in Auditing and Assurance Engagements
- Importance of Independence for Audit and Review Engagements
- Independence of Mind vs. Independence in Appearance
- Threats to Independence
- Fees and Compensation
- Gifts and Hospitality
- Financial Interests
- Business Relationships
- Employment Relationships
- Independence Rules for Specific Situations
- Group Audits
- Non-Assurance Services
- Long Associations
- Employment Relationships
