Tag Archives: Ethics

May 20, 2010 The discussion paper below is an attempt to combine two definitions of independence into one uniform definition. The IFAC states that the independence of mind is the state that permits the expression of a conclusion, while the AICPA states that it is the performance of an attest service without being affected by…

David A. Costello, CPA, President and CEO of the National Association of State Boards of Accountancy (NASBA) Selection Process and Advisory Committee Established to Identify Costello’s Successor NASHVILLE, TN (April 23, 2010) — David A. Costello, CPA, President and CEO of the National Association of State Boards of Accountancy (NASBA) announced his plans to retire…

The following discussion explores threats to independence, integrity and objectivity, due professional care, compliance with professional standards and available safeguards to ensure appropriate ethical conduct. Many of the safeguards represent activities auditors routinely apply. Nevertheless, the Committee concluded that existing professional standards do not sufficiently address the issues raised. From a public protection standpoint our…

September 17, 2008 This document contains the NASBA Ethics Requirements table, broken down by state, as of September 17, 2008. See Full Document:Ethics Breakout Session 4

August 26, 2008 NASBA responds to  an Exposure Draft – Section 290 of the Code of Ethics: Independence-Audit and Review Engagements (May 2008). NASBA goes on to say that the proposal as written is not appropriate and states multiple changes that are necessary. For example NASBA believes that it is not in the public interest…

State Board Report May 2008 Revisions to Section 5 of the Uniform Accountancy Act Model Rules were unanimously approved at the April 18 meeting of the NASBA Board of Directors, held in Alexandria, VA. The revisions had been worked on for several years by the NASBA Education Committee, including the development of exposure drafts and…

What Is “Ethical Culture and Climate?” What is generally referred to as “ethical culture” is actually a concept that integrates two distinct systems—ethical culture and ethical climate. It is imperative to take an in-depth look at both systems in order to fully understand “ethical culture.”  Ethical Culture Ethical culture looks (anthropologically) at how an organization…

State Board Report December 2007 Less than five percent of the Uniform CPA Examination is devoted to ethics, CPA Licensing Examinations Committee (CLEC) Chair Robert Pearson told NASBA’s 100th Annual Meeting. CLEC, acting upon the recommendation of the NASBA Ethics Committee, is supporting consideration of increasing coverage to test the candidates’ ability to handle ethical…

April 12, 2007 This document contains a letter of comment from NASBA to the International Ethics Standards Board for Accountants of the International Federation of Accountants in response to Exposure Draft Section 290 of the Code of Ethics Independence-Audit and Review Engagements. All U.S. Certified Public Accountants (“CPAs”) are licensed and regulated by State Boards…

November 2, 2006 NASBA comments to the Professional Ethics Executive Committee (“PEEC”) of the American Institute of Certified Public Accountants (“AICPA”) on its Omnibus Proposal dated September 8, 2006. NASBA addresses multiple issues that the PEEC will have to correct before it can be approved. Issues include: Indemnification and Limitation of Liability Provisions for Attest…