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This event includes 4 hours of Ethics CPD.
In order for a professional practice to grow and succeed, you must be proactive about ethics. This course will help practitioners deal with actual ethical dilemmas they face, regardless of the size of the practice or the role they play within the practice. We do this by providing a step-by-step approach that will help you navigate through complex and sensitive issues that arise in any practice.
Using an ethical lens is necessary to achieve a balance between legal requirements and regulations as well as the demands of the client, which are sometimes contradictory. To create sustainable success in professional practices, we recommend taking a risk-based approach that considers the probability and impact of ethics-related risks occurring. We examine three dimensions of these risks: staff, client and practice management. We then consider prevention, detection and mitigation strategies for all risks.
This is a workshop style course in which you will pause and apply the approach at each step to your own practice. We share actual situations we have encountered and give you an opportunity to consider how you would respond to them. We share resources that will help you gain new insights and learn from others.
By being proactive about ethics, you can prevent code of conduct violations that can have detrimental impact on your practice and your career. You will also protect your practice and increase its long-term value.
After taking this course, you will learn how to:
- Examine the complex role of the professional accountant from an ethics lens.
- Apply a risk-based approach to reduce ethics-related issues in professional practices.
- Identify specific risks in audits, reviews and notice to reader assignments.
- Deal with independence concerns when doing bookkeeping for audit and review clients
- Identify and evaluate risks you are currently facing in your own practice.
- Identify steps to prevent, detect and mitigate ethics risks that have a high probability and high impact.
This course will benefit members at all levels within professional practices. It is suitable for sole practitioners, members in smaller practices, mid-sized practices and even the larger firms. This course is also for members aspiring to either start or to acquire a professional practice.