AICPA Ethics Exam study guide with detailed questions and 100% verified answers.Already graded A.

Ethical Decision Making Model - CORRECT ANSWERS️️helps you actively work through gray area and choose the best possible solution to an ethical dilema Step 1: Recognize the ethical issue Step 2: Gather the critical facts Step 3: Identify the stakeholders Step 4: Consider your alternatives Step 5: Consider the effect on stakeholders Step 6: Consider your comfort level Step 7: Consider rules, regulations and laws Step 8: Make a decision Step 9: Document your efforts Step 10: Evaluate the outcome Step 1 - CORRECT ANSWERS️️Recognize the ethical issue Step 2 - CORRECT ANSWERS️️Gather the critical facts -you may not have all the facts, but you need the key ones (material) Step 3 - CORRECT ANSWERS️️Identify the stakeholders -who is affected by your decisions/actions -consider as many as possible Step 4 - CORRECT ANSWERS️️Consider your alternatives -approaches you could take to address this matter and resolve the ethical conflict Step 5 - CORRECT ANSWERS️️Consider the effect on stakeholders -effect of each alternative Step 6 - CORRECT ANSWERS️️Consider your comfort level -how comfortable are you with each option -how would you feel if you have to discuss your decision in public Step 7 - CORRECT ANSWERS️️Consider rules, regulations, and laws -rules set by AICPA, state accountancy board, state CPA society Step 8 - CORRECT ANSWERS️️Make a decision -take the time you need -discuss with colleague, gain perspectives, counsel, don't be hasty Step 9 - CORRECT ANSWERS️️Document your efforts -your understanding of the facts -who you consulted with and their professional affiliations -your decision Step 10 - CORRECT ANSWERS️️Evaluate the outcome -would you have done anything differently Professional & Regulatory Bodies - CORRECT ANSWERS️️set ethics standards and rules for members of the accounting profession State CPA licensing boards AICPA SEC PCABO IFAC IRS GAO DOL others State CPA Licensing Boards - CORRECT ANSWERS️️issues CPA licesnes and oversee ethical conduct of jurisdiction AICPA - CORRECT ANSWERS️️American Institute of Certified Public Accountants national professional organization for all CPAs; work with state CPA societies -PEEC: Professional Ethics Executive Committee promulgates and enforces ethics and independence rules that apply to all members