Listen as Toni Lee-Andrews and staff of the AICPA Professional Ethics Division fill you in on what happened at this quarter's open meeting. You can find the full meeting agenda here. Topics include: Section 529 plans Private equity investment in firms Artificial intelligence Simultaneous employment Engagements subject to the SSAEs IESBA monitoring …

If you were unable to observe PEEC's 4Q meeting, you can listen to an overview from Toni Lee-Andrews and staff of the Professional Ethics Division. The 2-day meeting was packed with project updates and included PEEC's approval of changes to the Code of Professional Conduct related to public interest entities. IESBA sustainability If you're a practi…

Did you miss this week's meeting of the Professional Ethics Executive Committee? Not to worry. You can catch the highlights here with Toni Lee-Andrews, director of the AICPA Professional Ethics Division and other staff. You'll hear mention of beneficial ownership information reporting and you can check out resources for that here. In the coming wee…

Listen as Toni Lee-Andrews, director of the AICPA Professional Ethics Division, and staff give you the highlights of this quarter's meeting of the Professional Ethics Executive Committee. Discussions include international convergence efforts, new proposed guidance on public interest entities, and simultaneous employment. You'll hear about outreach …

We love it when you're able to join us for meetings... but when you can't, we're happy to give you the highlights. Listen as AICPA Professional Ethics Division staff fill you in on all the projects the Professional Ethics Executive Committee is currently working on. Did you know we offer free CPE credits when you observe PEEC meetings? What a great…

We love it when you're able to join us for meetings... but when you can't, we're happy to give you the highlights. Listen as AICPA Professional Ethics Division staff fill you in on all the projects the Professional Ethics Executive Committee is working on. (00:55) Upcoming meetings (01:35) Compliance audits (03:10) Convergence on the fees with IESB…

The busier we get, the more we tend to rely on bright lines to help us navigate the world around us. Easy rules to make work simpler. But as trusted advisers in a profession the public relies on, easy rules don’t always cut it for accountants. Sometimes, as Sarah Brack, CPA, says in this episode, you have to use that big brain in extraordinary ways…

Winter is coming... Are you overwhelmed with clients asking you to amend their 941s? And are you getting calls from businesses offering to help you out for a fee? In this episode, Joan Farris and John Wiley, two CPAs on staff in the AICPA Professional Ethics Division, talk through some questions we’re getting on the hotline. What’s legit and what i…

You’re busy. Crazy busy — serving your clients, volunteering, taking care of your family and friends, and somewhere in all that, hopefully finding time for yourself. With everything else on your mind daily, you may not know the finer points of your ethical obligations when a client requests records from you. Jennifer Clayton, CPA, and John Wiley, C…

Eagerly awaited changes to the DOL independence guidance for employee benefit plans are live in the Federal Register today. Listen as Summer Young, CPA, currently a senior manager in the AICPA Professional Ethics Division and formerly a practicing EBP auditor, walks us through the history and changes. Keep an eye on the Online Ethics Library for he…

Patches and the "discrete tool" exception... Important concepts when considering whether the help you're giving a client will impair your independence. In this episode, Liese Faircloth and Iryna Klepcha, two CPAs on staff in the AICPA Professional Ethics Division, continue their discussion with Dan O'Daly, a managing director in Deloitte's independ…

In this episode, Liese Faircloth and Iryna Klepcha, two CPAs on staff in the AICPA Professional Ethics Division, continue their discussion with Dan O'Daly, a managing director in Deloitte's independence office, about changes to the Code of Professional Conduct related to technology. They highlight why PEEC concluded that operating or managing a cli…

It's rare to scan through a professional news feed these days without an article or opinion piece on technology in the accounting profession. The changes are exciting and the implications for practice are profound. And there are some things you need to be aware of when it comes to independence. In this episode, Dan O'Daly, a managing director in De…

Listen as Toni Lee-Andrews and staff of the Professional Ethics Division give an overview of the Professional Ethics Executive Committee's 3rd quarter meeting. Topics include updates on information systems services and noncompliance with laws and regulations. Check out the Online Ethics Library. If you don't have the link handy, just type aicpa.org…

The Great Resignation... the Great Reshuffle... the Big Quit. Different names for the same phenomenon that we see happening all around us. Our profession is no exception, but there may be important ethical considerations if you are moving into a role at an attest client of your firm. In this episode, we discuss simultaneous and subsequent employmen…

Did you know there's a confidential ethics hotline? You can call 888.777.7077 then dial option 2, option 3 when you have questions about ethics and the Code of Professional Conduct. It's true. In this episode, Emily Daly, CPA talks all about the hotline, explaining what we can and can't answer, how it all works, when you can expect to hear back abo…

Listen as Mimi-Blanco Best and Ellen Goria, CPAs and associate directors at the AICPA, discuss some potential pitfalls of SOC 2® reporting and offer advice and tools for avoiding issues and ensuring you meet your ethical responsibilites when performing these engagements. Q&As Here are the Q&As Mimi and Ellen discuss. You'll need to be signed into y…

PEEC is proposing changes to the AICPA Code of Professional Conduct. Listen as Melissa Powell, CPA, and Nancy Miller, CPA discuss why the changes are necessary and what PEEC hopes to learn from members and other interested parties during the comment period for two new exposure drafts. You can find the exposure drafts and online comment forms at www…

Toni Lee-Andrews and staff of the Professional Ethics Division give an overview of the Professional Ethics Executive Committee's 2nd quarter meeting. Topics include compliance audits, unpaid fees, client confidentiality and data security, information systems services, and more. For more details about the meeting, see meeting minutes and agendas. Mi…

In this episode, John Wiley, CPA, and Jeff Lewis, CPA, continue their discussion of what it means to act with honor, specifically as that relates to fees. If you missed the previous parts of this discussion, look for episodes 48 and 49, which are parts 11 and 12 of the back to basics series.

Listen as John Wiley, CPA, and Jeff Lewis, CPA, continue their discussion of what it means to act with honor. In this episode, they discuss an important topic: maintaining client confidentiality. If you missed the first part of this discussion, look for episode 48, or part 11 of the back to basics series.…

What does it mean to "act with honor"? That can be subjective, certainly, but the AICPA Code of Professional Conduct has guidance on what it means for our profession. Listen as John Wiley, CPA, and Jeff Lewis, CPA discuss some questions that come into the ethics hotline as well as some general complaints we hear in the ethics division.…

Defining a family relationship may seem simple. But is it really? In this week's episode, Sarah Brack, CPA, and April Sherman, CPA, look at family relationships and how they can affect an auditor's independence. You may be surprised at some things they discuss! Helpful related resources AICPA Code of Professional Conduct Plain English guide to inde…

When do members in business and industry need to be concerned about independence? What are some relationships that can impair independence? In this episode, Sarah Brack, CPA, and April Sherman, CPA, discuss various financial relationships and their possible effects on independence. Helpful related resources AICPA Code of Professional Conduct Plain …

What happens when you do everything right but still experience an inadvertent breach of independence? What is a breach? In their continuing discussion of independence, Jennifer Kappler, CPA, and Nancy Miller, CPA, answer these questions as well as discussing related systems of quality control. They also discuss how independence breaches can affect …

What do you need to be aware of when you're providing nonattest services to audit and attest clients? What does the code mean by "suitable skills, knowledge, and experience"? Listen as Jennifer Kappler, CPA, and Nancy Miller, CPA discuss these important questions. Helpful related resources AICPA Code of Professional Conduct Plain English guide to i…

Independence of mind is a vital aspect of ethics. The Independence Rule and the related interpretations help practitioners with solid guidelines when working with audit and attest clients. But what about situations you may find yourself in where the code is silent? That's where the Conceptual Framework Approach (ET sec. 1.210) comes in. In this epi…

Do you know what your responsibilities under the AICPA Code of Professional Conduct are when you encounter a situation that could compromise your integrity or objectivity? Get a refresher in this episode with Sarah Brack, CPA, CGMA, CGFM, and Lewis Sharpstone, CPA. You can find the code at www.aicpa.org/codeofconduct.…

Listen as Sarah Brack, CPA, CGMA, CGFM, and Lewis Sharpstone, CPA, discuss the foundations of integrity and objectivity in the AICPA Code of Professional Conduct. You can find the code at www.aicpa.org/codeofconduct.

Jennifer Kappler, a manager in the ethics division, and Ian Benjamin, CPA discuss the ins and outs of auditing government entities. Helpful related resources AICPA Code of Professional Conduct Common deficiencies: Government and not-for-profit audits Independence rules comparison: AICPA and Government Auditing Standards Look for other episodes in t…

Jennifer Kappler, a manager in the ethics division, and Ian Benjamin, CPA discuss why compliance with auditing and accounting standards is so important for a self-regulating profession. Helpful related resources AICPA Code of Professional Conduct Common deficiencies: Employee benefit plan audits Common deficiencies: Government and not-for-profit au…

In this first episode of our “Back to basics” series, John Wiley, CPA, ABV, CGMA and Jerry Love, CPA, CVA, ABV, PFS, CFP, MAFF bring their considerable expertise to this opening overview of the Code of Professional Conduct and its vital role in our self-regulating profession. Whether you’re a member in business or a member in public practice, there…

Listen as ethics division staff give an update on PEEC’s meeting. The committee approved several changes to the Code of Professional conduct in the following areas: Noncompliance with laws and regulations Unpaid fees Assisting clients with implementing accounting standards Loans, acquisitions, and other transactions Visit PEEC’s project page for do…

The Professional Ethics Executive Committee’s 4th quarter meeting covered several ongoing projects and some new ones as well. Listen as division staff provide updates on discussions of the following projects: Noncompliance with laws and regulations (NOCLAR) Information systems services (ISS) Current standards-setting and member enrichment project u…

New independence guidance on loaning staff to clients becomes effective November 30, 2021. In this episode, you’ll hear the 5 things you need to be aware of when you enter staff augmentation arrangements with your clients. Resources Staff Augmentation Arrangements interpretation Staff augmentation Qs & As Journal of Accountancy articles March 2021 …

How do loans to and from attest clients affect your independence? The Professional Ethics Executive Committee (PEEC) is proposing changes to the Code of Professional Conduct related to loans and acquisitions. Take this opportunity to hear about the proposed changes and send your comments for consideration. The exposure period for this guidance runs…

PEEC wants to hear from you about proposed changes to the AICPA Code of Professional Conduct. In this episode, we discuss a new independence interpretation on assisting clients with accounting standards implementation. You’ll hear: Which practitioners will be affected How practice will be affected What PEEC is hoping to learn from commenters during…

When considering changes to the AICPA Code of Professional Conduct, the Professional Ethics Executive Committee (PEEC) wants to hear what our members and other interested parties have to say. This new series is a helpful addition to the text of exposure drafts: You can have a quick listen while going about your business to get those feedback synaps…

Have you ever wondered how you can become a member the Professional Ethics Executive Committee, other executive committee, or any volunteer body at the AICPA? Attendees at the AICPA’s 2021 ENGAGE conference had some great questions for presenters Jim Brackens, Vice President of Ethics and Practice Quality at the AICPA, and Lewis Sharpstone, CEO of …

Ever wonder what, exactly the Professional Ethics Executive Committee (PEEC) does or what the process is for changing the AICPA Code of Professional Conduct? Attendees at the AICPA’s 2021 ENGAGE conference had some great questions for presenters Jim Brackens, Vice President of Ethics and Practice Quality at the AICPA, and Lewis Sharpstone, CEO of S…

At this quarter’s meeting, the Professional Ethics Executive Committee agreed to issue five new Qs & As and three new ethics exposure drafts. The Auditing Standards Board has also issued exposure drafts on quality management and Ahava Goldman of the AICPA Audit and Attest team spoke about those at the meeting. PEEC discussed several other standards…

A high priority of the Professional Ethics, Peer Review, and CPA Evolution teams at the AICPA is to help you, the practitioner, navigate the tricky waters of challenging times. In this episode, you’ll hear from the teams’ directors about this work and upcoming resources soon to be available.

Did you know when you joined the AICPA as a member that we have an ethics investigation and enforcement team? Do you know what we do as opposed to state boards of accountancy and federal agencies like the US Department of Labor? In this episode, Jennifer Clayton, Associate Director of Ethics Enforcement at the AICPA, talks with Ian Benjamin, Enforc…

With remote work becoming more common, questions arise about what “office” means in terms of independence. Listen as Michael Schertingzer, CPA, and Kelly Hunter, CPA, discuss the history of the Professional Ethics Executive Committee’s project on the definition of “office” as well as some particulars practitioners and firms should be aware of.…

Tune into this first episode of our new ongoing series “What’s hot on the hotline.” In this episode Professional Ethics Division staffers Shannon Ziemba, CPA, CGMA and Liese Faircloth, CPA discuss records requests and nonattest services.

The Professional Ethics Executive Committee held its second quarter meeting this week. Listen as Toni Lee-Andrews, director of the AICPA Professional Ethics Division, and staff fill you in on the highlights, including SEC and IESBA convergence, staff augmentation, upcoming member enrichment projects and more.…

The Professional Ethics Executive Committee had its 1Q meeting this week. Listen as Toni Lee-Andrews, director of the AICPA Professional Ethics Division, and staff fill you in on the highlights, including key votes on NOCLAR, records requests, and staff augmentation. If you’d like more detail than we cover in this episode, you can review the meetin…

The Professional Ethics Executive Committee had its 4Q meeting this week. Listen as Toni Lee-Andrews, Director of the AICPA Professional Ethics Division, and staff fill you in on the highlights, including what you can expect to see in 2021 as a result of PEEC’s strategy and work plan. What you’ll hear about: Introduction (00:33) NOCLAR (01:55) Reco…

Listen as staff of the AICPA Professional Ethics Division discuss updates to the Plain English guide to independence since 2017. You'll hear about hosting services, information system services, and new SEC guidance, among other topics. Go to aicpa.org/plainenglishguide to access the guide.

This second of two Ethically Speaking episodes on PPP forgiveness engagements covers some questions we've had on the ethics hotline. Toni Lee-Andrews, Director of the AICPA Professional Ethics Division, takes a dive into specifics with Jim Brackens, AICPA Vice President of Ethics and Practice Quality, and Bob Dohrer, Chief Auditor of the AICPA Audi…