Putting Ethics into Practice
Live Online Workshop
Ethics is a fundamental pillar of the profession and an underlying theme to everything we do. Chartered Professional Accountants are known for integrity and reliability and a strong practitioner is valued by their clients. It is critical to protect that reputation. The topics covered in the workshop will help you be better equipped to do just that.
Ethics and Ethical Decision-Making
The workshop starts with understanding ethics and its key components including the difference between morals and ethics. This leads into exploring what it means to make ethical decisions using a established frameworks and understanding how bias impacts decisions.
Code of Professional Conduct
One of the first activities a practitioner undertakes in an engagement is the client continuance and acceptance process. For small- to mid-sized practitioners independence issues can create potential challenges; our profession’s Code of Professional Conduct guides practitioners’ behaviour in response to these issues. We will review aspects of the Code of Professional Conduct to help you make informed decisions.
Fraud and Professional Skepticism
Unfortunately, practitioners encounter unethical activities as fraud does occur. The workshop will address indicators of fraud through an examination of the “fraud triangle” and a discussion of real-life situations applicable to their types of clients. Whether fraud is discovered by the practitioner or it is brought to their attention, they must react to it. The workshop will review steps required when fraud is discovered, as well as how to design additional procedures, including professional skepticism, to ensure the right report is issued in the circumstances.
Using case studies, practical examples and discussion, the course leads participants through a variety of topics they will be able to put into practice.
By the end of the workshop, participants will be better able to:
• Describe ethics and what it means to public practice
• Identify personal and group bias and how it impacts decisions
• Discuss the differences in ethical decision-making frameworks and understand how to apply them when decisions are made
• Become more familiar with the Code of Professional Conduct and the rules that guide the profession; become better able to interpret situations when faced with issues
• Identify potential independence threats and establish and implement appropriate safeguards to be put in place
• Recognize fraud indicators and describe the factors that may lead to fraud
• Incorporate professional skepticism into engagements
• Implement the appropriate additional procedures when fraud is encountered and evaluate the impact on the engagement report