Adherence to the CPA Code of Professional Conduct is an important foundation of our profession. While stakeholders rely on an accountant's judgment and guidance in preparing financial statements, ethical dilemmas can create challenges in selecting the appropriate accounting policy to apply when there are choices, determining estimates and making judgements when applying the standards. This course helps participants to develop skills for making ethical decisions when deciding on accounting policies for measurement, presentation and disclosure using ASNFPO standards and ASPE standards where applicable for NFPOs.

The observance of ethics holds significant importance for CPAs, whose commitment to ethical conduct and protecting the public differentiate these professionals from other practitioners. This course will provide participants with an opportunity to consider factors that may influence their personal ethical decision making in developing and selecting accounting policies and applying professional judgment. A framework will be discussed to assist in making ethical decisions when determining accounting policies using ASNFPO standards and ASPE standards where applicable for NFPOs.

Participants will consider examples from the ASNFPO standards and ASPE standards where applicable for NFPOs with respect to interpreting wording, making accounting policy choices and determining estimates. Ethical considerations that may impact those decisions will be discussed.

Participants will have the opportunity in case studies to apply a framework for ethical decision making in determining accounting policies for measurement, presentation and disclosure using ASNFPO standards and ASPE standards where applicable for NFPOs.

Topics Include:

• An overview of the CPA Code of Professional Conduct in Ontario
• Factors that influence ethical decision making
• Framework for ethical decision making
• Exercising professional judgment using ASNFPO standards and ASPE standards where applicable for NFPOs
• Ethical decisions in developing accounting policies, decisions on measurement, presentation and disclosure
• Case studies that require participants to analyze scenarios using an ethical decision-making framework using ASNFPO standards and ASPE standards where applicable for NFPOs

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By the end of this course, participants will be able to:

• Use the Ontario CPA code of professional conduct as a resource for decision-making.
• Consider factors that may impact their ethical decision making.
• Apply a framework to scenarios to enhance ethical decision making.
• Become aware of when professional judgment is exercised using ASNFPO standards and ASPE standards where applicable for NFPOs and how ethics might influence this judgment.
• Apply critical thinking skills to analyze ethical challenges.
• Interpret and apply the CPA code to resolve ethical issues.
• Apply professional judgment in determining the most appropriate action and defend their decisions.