CPAs in Trouble - Ethical Considerations  

Upon successful completion of this course, the user should be able to:

• explain the importance of protecting the interests of the public and investors,

• describe the two parts of the AICPA Code of Professional Conduct,

• discuss the role of integrity in ethical decision making,

• discuss how the Financial Crimes Enforcement Network (FinCEN) is operated by the U.S. Treasury,

• describe the three concepts of placement, layering, and integration in money laundering schemes,

• describe how identity thieves may look for ways to use a taxpayer's identity to perpetuate fraud schemes,

• discuss signals to watch for when dealing with unscrupulous tax return preparers,

• describe at least three methods of abusing deductions relating to charitable contributions,

• discuss how accountants and CPAs can be considered gatekeepers of a financial system, and

• explain how accountants and CPAs are not considered financial institutions under the Bank Secrecy Act.