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Product ID: 409631EAU

Financial Statement Audits and Ethical Considerations

OnDemand Webinar (64 minutes)

Recognize ethical issues and be able to discuss them with your client and your firm.Increased competition in financial statement audits made public accounting firms more concerned with keeping clients happy and retaining that relationship while maintaining profits. As a result, many accounting firms are doing more with less staff while company management needs to meet bank covenants or bonus promises. In prosperous times it isn't really an issue, but when the company faces a slow period, greed can cross ethical boundaries.


Michael J. Stevenson, CPA, CFE, CFF, ABV, Blue & Co., LLC



• Overview of Auditor's Role and Why Their Ethics Are Being Questioned

• Accounting Scandals

• Enron, Kmart, Xerox, etc.

• What Are Ethics?

• CPAs Have a Responsibility That Includes Ethical Behavior, Even at the Sacrifice of Financial Gain

• Outside Users of Financial Statements Must Have Confidence in CPA

Framework for a Code of Ethics

• Ethics Regulations of the Modern Era

• Foreign Corrupt Practices Act

• COSO/Sarbanes-Oxley

Ethical Threats (With Real Life Examples of Each)

• Self-Interest

• Inappropriate Influences

• Self-Review

• Poor Evaluation of Judgement

• Advocacy

• Promote Client Where Objectivity Is Compromised

• Familiarity

• Close Relationship

• Intimidation

• Pressure From Client