Accounting ethics Feed

The Time is Right to Mandate Financial Reporting of ESG Issues

Sustainability Disclosures Need to Be Enhanced It seems that everywhere we turn these days sustainability reporting is discussed. From individuals to corporations and nonprofits, almost everyone is jumping on board with the idea that we all need to live more sustainable lives including protecting the environment. Reporting on ESG Issues... Read more →


Is the 120/150-Hour Requirement the Answer to Barriers to Entry into the Accounting Profession?

Costs and Benefits of Adding 30-units to Accounting Students' Requirements for Licensure as a CPA One of the most talked about issues in accounting right now is whether the 150-hour requirement to qualify for licensing as a CPA creates a barrier to entry for many accounting students that should be... Read more →


How to Kill a Profession

Cheating on Internal Training and Ethics Exams Is a Wake-Up Call for the Accounting Profession By Michael K. Shaub, June 29th, 2022 The following is a a very thoughtful blog published by my friend and colleague, Mike Shaub. Mike addresses the recent scandals where three of the four Big Four... Read more →


Cheating on Exams: Should Accounting Professionals Be Trusted?

Audit Firm Professionals Have Cheated on Ethics and Internal Training Exams How can it be that three of the big four CPA firms were caught cheating on external and internal ethics and continuing professional education (CPE) courses given that their role as auditors is to protect the public interest and... Read more →


“Excellence in Accounting Ethics Education Award”

Excellence in Accounting Ethics Education Award Announced by the Public Interest Section of the American Accounting Association The intent of this award is to recognize new pedagogy for teaching ethics to accounting students. A monetary award of $1,000 and a plaque will be presented at the annual Ethics Symposium, sponsored... Read more →


Do “Modernized” Independence Rule Changes Protect Investor Interests?

Objectivity and Impartiality Replaces the Strict Application of Independence Rules In June 2021, the Securities and Exchange Commission (SEC) made amendments effective for certain rules regarding auditor independence requirements (known as Rule 2-01 of Regulation S-X). The intention behind these amendments is to modernize the SEC’s rules governing auditor independence... Read more →


Trump v Mazars: You Decide

Professional Obligations of Accountants to Clients You may have heard that Donald Trump and the Trump Organization’s accountant, Mazars USA, split up after Mazars sent a letter dated February 9, 2022 to the Trump Organization. The letter was included in a court filing and said that “the Statements of Financial... Read more →


Is the PCAOB Protecting the Public Interest?

Examining the POGO Report and Other Matters It’s been twenty years since the Public Company Oversight Board (PCAOB) was created by the Sarbanes Oxley Act of 2002 (SOX). This is a good time to evaluate the mandate given to the board, it’s work during that period, and whether it is... Read more →


Fake it Until You Make it: The Story of Elizabeth Holmes and Theranos

A Cautionary Tale for Silicon Valley Fake it until you make it is an expression that amply describes what happened to Theranos. It also characterizes the actions of the company’s founder and CEO, Elizabeth Holmes. The idea being that by imitating confidence, competence, and an optimistic mindset, Holmes was able... Read more →


Is it Time to Mandate ESG Disclosures?

Climate Change: The New Kid on the Block information to make informed judgments about the financial condition of companies. This includes events that create possible future obligations based on the outcome of current events where it is not known with certainty whether the outcome will create a liability for a... Read more →