Premium Essay

Electronic Processing and the Role of Professional Accouting and Finance Bodies and Cods of Conduct

In: Business and Management

Submitted By ramla987
Words 1225
Pages 5
-------------------------------------------------
Electronic Processing and The role of professional Accouting and finance bodies and cods of conduct
Accounting and Finance ATAR Assignment
June 10, 2016
Ramla Mohamed
Australian Islamic College
June 10, 2016
Ramla Mohamed
Australian Islamic College

Part 1 a) What membership type are available for the organisation? Types of membership include Associate, CPA and Fellow are an example of memberships available to CPA Australia.

b) What qualifications/experiences are required to become a member?
Associate(ASA)- As an ASA you have six years to complete the CPA Program, including six education subjects and the experience requirement, in order to become a CPA
CPA-To call yourself a CPA, you must: hold a degree or postgraduate award recognized by CPA Australia, in any discipline, have demonstrated competence in our foundation exams, usually demonstrated by the completion of an accredited degree, have completed the CPA Program, including the experience requirement, within six years, undertake continuing professional development (CPD) activities each year and comply with a code of conduct set by CPA Australia
Fellow- You must be a CPA with at least 15 years' full-time work in accounting, finance or business. (1) c) How do you maintain membership?
As a member of a leading global professional body, you understand the value of life-long learning. Whilst there is an obligation to participate in continuing professional development (CPD) as part of your CPA Australia membership, there are other, more integral reasons to maintain your CPD(1): * it ensures you continually build the knowledge and skills you need to succeed in the competitive business environment * it assists you in achieving your development and career goals * it assists you to excel in your role, providing increased value…...

Similar Documents

Free Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct Katie Bradbury University of Phoenix ETH/376 The AICPA is the world’s largest association to signify accountants. Founded in 1887 the AICPA is formed out of 350,000 members in 128 different countries. Upon the establishment of the ACIPA, its creation of accountancy as a profession well-known for educational requirements, high professional standers and a strict code of professional ethics. The AICPA is considered to be the foundation of ethical reasoning in accounting because it covers everything from independence to due diligence. The Code of Conduct is basically, a guideline for every CPA and accountant to follow in there career. There are several purposes to the Code of Professional Conduct but three purposes I feel are the most important. I believe after reading the AICPA Code of Professional Conduct the three most important purposes are to protect the investor, to protect the creditor and to protect the employee. The AICPA’s mission is to provide members with the resources, information, and leadership that will enable them to provide valuable services in the highest standards to benefit the public, employers and clients. I feel protecting the investor, protecting the creditor, and protecting the employee are the most important because these are key people that make the company what it is. I feel this is done by responsibilities, the public interest and integrity. Professional CPA’s have responsibilities to protect all those......

Words: 387 - Pages: 2

Premium Essay

Aicpa Code of Professional Conduct

...“AICPA Code of Professional Conduct” ETH/376 The American Institute of Certified Public Accounts (AICPA) Code of Professional Conduct is a body of principals that has a goal to guide Certified Public Accountants (CPA’s) in the “performance of it professional responsibilities” (Mintz, 2011). The AICPA Code of Professional Conduct has six essential principles and they are: Responsibilities, the Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of Services. Each of these principles is meant to be followed by the members of the AICPA. These articles are used to explain the responsibilities that CPA’s have to clients, colleagues and to the public. The first principle, Responsibilities, protects the public of irresponsible and immoral behavior. The Public Interest makes sure the public’s best interest is protected. The third and fourth principles guarantee that the trust of the public is greatest served; integrity, honesty and confidentiality are of highest importance, as well as objectivity and impartiality. The fifth principle deals with the level of quality service and competence that the public receives and deserves. The sixth principle ensures that CPA’s have good internal controls put into place, and makes sure that CPA’s are unbiased and free of conflict when performing an audit for a client. These principles are put into place to protect the public and also to protect CPA’s, because as they follow them they will ensure......

Words: 417 - Pages: 2

Free Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct Teresa K. Grimm 376 September 2, 2013 Sylvia Baughey AICPA Code of Professional Conduct I will be describing what the main reason of having the AICPA Code of Professional Conduct and why it’s the foundation of the ethical reason in the accounting world. I will also try to explain what I believe to be the most three important principles and why they are the most important. The main reason behind the AICPA Code of Professional Conduct is to uphold the standards and values of behavior in the community for all involved in the accounting profession. All of the principles of the AICPA Code are aspirational statements that form the main foundation for the Code’s enforceable rules. (Mintz & Morris, 2011) There are six principles to the code of professional conduct and they are, the public interest, objectivity and independence, due care, integrity, responsibility and scope and nature of services. (AICPA, 2013) When a member is using the Principles it will help guide him or her in a performance of his or her professional responsibilities and the call for an unyielding commitment to honor the public trust, even if it is at a sacrifice of personal benefits. (Mintz & Morris, 2011) I think the most three important principles of the Code would be integrity, the public interest and due care. Integrity is so important when a CPA is working with the public, because the CPA needs to gain the trust and confidentiality of his or her...

Words: 482 - Pages: 2

Premium Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct The AICPA is the American Institute of Certified Public Accountants, which consists of more than 350,000 people in the accounting profession. They developed the AICPA Code of Professional Conduct as a standard for ethical decision-making in the Accounting profession. It is considered the foundation for moral reasoning, outlining the obligations of accountants to their companies and their clients. Since the panel consists of those within the profession, they are able to identify the appropriate conduct that should take place in situations of temptation for personal benefits. The code requires that all those who are committed to their profession use moral judgment while performing their responsibilities. One of the most important purposes of the AICPA Code of Professional Conduct is to guide accounting professionals through a decision-making process when ethical dilemmas occur. There is a step by step process that can be followed to ensure that they arrive at the appropriate ethical and moral decision, when dealing with a difficult situation. If, for example, a member of a client organization asks that they make adjustments to financial statements to better the appearance of the company, the accountant has a process of how to handle the situation. Another important purpose of the code is to ensure that accountants uphold the integrity of their profession. They must provide their service with character traits of honesty,......

Words: 398 - Pages: 2

Premium Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct Rebecca Moore ETH/376 August 18, 2014 Shanaika Muldrow The AICPA is a community of accounting professionals numbering at more than 350,000 from all over the world. The AICPA is a code of conduct that is formed on the bases of six principles. These principles are “responsibilities, the public interest, integrity, objectivity and independence, due care, and scope and nature services” (Mintz & Morris, 2011). Each of these principles are used as a guide for the accountants performance of professional responsibilities and the commitment to uphold the publics trust even at the expense of personal benefits. This code of conduct is considered to be the foundation of ethical reasoning in the accounting field because it touches on all aspects of the accounting profession. It also protects all the parties that are involved, the accountant, investors, the public, and creditors. I believe that the three most important purposes of the AICPA is to protect the client, the public, and the accountant. I would say that the most important purposes of the AICPA because the client, the public, and the accountant are the individual parties that make a company succeed or fail. Protecting these individuals is accomplished by following the AICPA principles in all situations. The three main principles that do this are responsibilities, the public interest, and integrity. Accountants have responsibilities to anyone who employs their accounting services.......

Words: 448 - Pages: 2

Premium Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct The AICPA is an organization that the majority of CPAs voluntarily join. Many in the business world are aware of the AICPA Code of Professional Conduct. This code of conduct focuses primarily on the ethical and professional obligations of CPAs. Members commit to abiding by the principles of the organization which holds them accountable to stringent principles and rules which go above and beyond ordinary laws and regulations. Members are expected to be self-disciplined and conduct themselves ethically and morally at all times. The three most important purposes of the AICPA Code of Professional Conduct are to guide their members in carrying out their responsibilities, to protect the public interest, and to enforce integrity. The AICPA Code of Professional Conduct reminds members that they should always exercise sound moral judgments and to remember they have a responsibility to their clients and the public to make professional decisions that are both ethical and moral. If CPAs were not responsible, society would lose all respect for the profession. There would not be a safe and fair way to judge the financial stability of companies or markets. When CPAs take responsibility and act professionally, ethically, and morally, their clients and the general public can feel confident they are reviewing accurate and credible financial statements of companies or organizations. It is crucial for CPAs to protect the public interest. The public......

Words: 527 - Pages: 3

Free Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct ETH/376 In order to understand the AICPA Code of Conduct you must understand the AICPA itself. The AICPA is a group of CPAs all around the world that volunteers to keep up the ethical obligations of CPAs. The AICPA Code of Conduct is known as the the foundation of ethical reasoning in accounting because it lays out the “law” accountants should follow in order to keep a good moral and ethics in the accounting profession. There are many purposes for the AICPA Code of Conduct but I feel that there are three that are more important than others. One purpose that I feel to be important is to keep the integrity of the accounting profession. As accountant clients hold us to very high standards. We are suppose to be honest, loyal and trust worthy. I feel that without the AICPA Code of Conduct laying out any type of foundation of integrity then CPAs would be viewed in so many negative ways. I don’t think I can stress enough how much ethics play into many professions not just accounting and how important that the AICPA Code of Conduct is based on ethical reasoning. Another purpose that I feel to be important is to look out for the client’s best interest. By looking out for what is best for the clients then as accountants it keeps jobs open and growing because no matter what kind of business you are you need someone to do accounting but if you don’t have a company of accountants or a personal accountant looking for your best interest as an owner......

Words: 408 - Pages: 2

Premium Essay

Professional Roles

...Professional Roles Mission Statement Name University Professional Nursing Mission Statement Many things can be learned when a person’s formative years are spent in a small town with minimal resources for the community. High on that list is an appreciation for the influence people can have on each other’s lives, for both positive and negative aspects. Speaking from the perspective of someone who spent twenty-five years of her youth living in a New Mexico village of about 3,000 people, I have acquired a desire to impact other’s lives in positive ways. Several aspects impact a community’s philosophies regarding care provision, including licensing requirements and education, ethics, professional and personal traits, and continual growth to reflect current developments in research discovery. It is my mission to provide compassionate and competent care to members of my community, as evidenced by aligning myself with care providers who share a similar philosophy of growth through continual self-analysis, research and education in the healthcare environment. My goal is to always exude the confidence and humility which creates a comfortable and healing environment. Functional Differences Nursing has long been recognized as one of the most trusted professions in the world (Saver & Alfaro-LeFevre, 2014, p. 2). Because nurses are in a profession inherent to helping people, the community expects a certain amount of dedication and obligation toward the population in general. ......

Words: 2398 - Pages: 10

Premium Essay

Aicpa Code of Professional Conduct

...AICPA Code of Professional Conduct Lucinda M. Joslin ETH/376 27 April 2015 Susan Paris AICPA Code of Professional Conduct Just as a doctor is expected to act within certain ethical standards when entrusted with a person’s life, so is a CPA expected to be ethical when handling someone else’s money. With several hundred thousand CPA’s as members, the American Institute of Certified Public Accountants’ (AICPA) code of professional conduct principles are viewed as the ethical guidelines for CPA’s. Of the AICPA’s principles, the three that I feel are the most important are integrity, objectivity and independence, and due care. Body The first principle that I feel is most important is integrity. For me integrity is a character trait. I view a person to have integrity if they are someone who will do what is right no matter who is watching, or what the situation is. Since a CPA has to be viewed an honest and there to serve the public trust, they must have integrity. The next principle that I feel is important is for a CPA to have objectivity and independence. A CPA must not have any conflicts of interest and be unbiased to be able to meet their professional responsibilities in an objective manner. The independence of a CPA is something that they must strive to maintain. Since perception is often reality for people, a CPA needs to avoid situation that can be perceived as having a relationship with a client that could cause the CPA’s independence......

Words: 410 - Pages: 2

Premium Essay

Professional Roles

...Professional Roles & Values Project Mirella Calderon Western Governors University June 4, 2015 Professional Roles & Values Project I’ll be discussing the functional dissimilarities concerning Board of nursing and the professional nursing establishments from my years of experience as a Registered Nurse. I will also be addressing nursing code of ethics and the professional traits, nursing theory, contributions and scenarios. A. Functional Differences The dissimilarities among Board of Nursing and Professional Nursing Organization are; board of nursing is a state government’s institute that controls the practice of registered nurses and advance practical nurses in order to protect the public. Board of Nursing’s duty is to continues by monitoring licensees’ compliance to state regulations and taking action against the licenses of those nurses who have displayed unsafe nursing practice (Moby, 2011). Each state has a regulation called the Nursing Practice Act, which is necessary by each nursing board. Nurses must fulfill with the regulation and related rules in order to preserve their license. The Board of Nursing in California for example in order to renewal license the registered nurse must complete thirty hours of Board of Registered approved continue education taken within the last two years in order to have an active licenses. I been a registered nurse for about seven years now and every two years, I must submit proof to the state boards that I have......

Words: 1451 - Pages: 6

Premium Essay

Professional Roles

...Nursing is a diverse and dynamic profession, with many layers that influence how care is ultimately delivered. This paper will explore some of these influences, and outline a Professional Nursing Mission Statement, with a keen look at nursing organizations, ethics, accountability, and professional practice. Mishel’s Theory of Uncertainty in Illness will be explained as a support to the mission statement and support of my personal professional practice. Additionally, two personal anecdotes will be shared regarding the ethical principles of respect for autonomy and beneficence. Functional Difference between Regulatory Agency and Professional Nursing Organization The major functional difference between a regulatory agency like a board of nursing and professional nursing organization is that a regulatory agency governs the education and licensing of nurses; actual nurse practices on the job, and discipline if the nurse falls short of governing practices (National Coumcil of State Boards of Nursing, 2015). The rules and regulations enacted by the board of nursing, after public review, “have the full force and effect of law.” (National Council Board of Nursing Nurse Practice Act 2) In contrast, a professional nursing organization is comprised of voluntary groups of nurses which provide educational opportunities, share information, and promote the profession. (Matthews, 2012) According to the National Council of State Boards of Nursing website, each state board of......

Words: 3135 - Pages: 13

Premium Essay

Professional Roles

...nursing education programs, establishing nursing practicing guidelines from the regulatory standpoint, and developing policies, rules and regulations” ("Roles of State Boards of Nursing: Licensure, Regulation and Complaint Investigation," 2012). The Missouri Board of Nursing holds hearings and investigates any complaints of nursing care within the state that does not follow the nurse practice law. The board of nursing holds the authority to place an individuals’ nurse license on probation, suspension or possibly revocation. The Missouri Nurse Practice Act is in place to govern and regulate licensed nurses, define the scope of practice for licensed nurses, and have the say as in who can use the title of Registered Nurse (R.N.) and Licensed Practical Nurse (L.P.N.) in the state of Missouri (“Board of Nursing”, n.d.). The Nurse Practice Act is a combination of statutes 335.011 to 335.355 within the state. This document portrays information on definitions, IV fluid administration, board of nursing qualifications, licensure renewal, licensure suspension, penalties for violation, minimum standards for nursing schools, general rules, and etc. It directly spells out the laws and responsibilities of the nurse within their scope of practice. The state board of nursing ensures nursing compliance through the nurse practice act ("Roles of State Boards of Nursing: Licensure, Regulation and Complaint Investigation," 2012). The Missouri Board of Nursing and Nurse Practice Act......

Words: 3550 - Pages: 15

Premium Essay

Professional Roles and Values

...Professional Roles & Values Project Natasia Menezes Western Governors University A. Functional Difference There are many functional differences between a regulatory agency, such as a board of nursing (BRN), and a professional nursing organization (PNO) pertaining to professional nursing practice. Boards of Nursing (BONs) are state governmental agencies run by appointed individuals that regulate nursing practice. BONs are responsible for accepting/accrediting nursing programs, outlining the standards for safe nursing care and issuing licenses to practice nursing (National Counsel of State Boards for Nursing, 2015). In my daily practice as an RN the BON regulates my practice by monitoring for compliance and completion of all requirements for licensure within NY state laws; including successfully passing NCLEX and enforcing the nurse practice act accordingly. However a professional nursing organization such as the American Nurses Association (ANA) are generally a group of registered nurses that advocate for the members within the organization and the nursing profession. The ANA promotes the rights of nurses in the workplace while seeking to influence policies to realistically advance the high standards of nursing practice within the nursing profession.(Matthews, 2012) In order to attain a projected goal, in some cases, the ANA also will lobby the congress and regulatory agencies on healthcare issues affecting nurses and the public. In my daily practice as an RN the...

Words: 2832 - Pages: 12

Free Essay

Accountant’s Professional Code of Conduct

...Accounting professionals are obliged to comply with certain standards in an effort to protect shareholders and the general public. When one joins any of the accounting professional organizations, such as the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA) or the Institute of Management Accountants (IMA), one is agreeing to adopt the ethical code. This professional code is a positive set of statements and guidelines for CPAs with explicit rules as to what accountants should or shouldn’t do. It applies to all members, whether it is public practice, industry, government or education. There are many reasons why one would want the accountant representing them to adhere to a specific rules and regulations. From an investor’s point of view, one would want an accountant that is going to have their best interests in mind, but to also be morally and ethically bound to perform within legal confines. Sometimes actions may be considered within acceptable limits of the law, but not ethically suitable; in such instances, the code of ethical conduct is even more important. Investors want insurance that the corporation with which they are financially backing is transparent. Transparency, which from an accounting/corporate standpoint, is the free flow of information within an organization and between the organization and its many stakeholders. This transparency and accountability improves the credibility and the relationship......

Words: 1531 - Pages: 7

Free Essay

The Crucial Roles of Professional

...The Crucial Roles of Professional Accountants in Business in Mid-Sized Enterprises Professional Accountants in Business Committee International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high-quality professional standards, furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. This publication was prepared by IFAC’s Professional Accountants in Business (PAIB) Committee. The PAIB Committee serves IFAC member bodies and the more than one million professional accountants worldwide who work in commerce, industry, the public sector, education, and the not-for-profit sector. Its aim is to enhance the role of professional accountants in business by encouraging and facilitating the global development and exchange of knowledge and best practices. This publication may be downloaded free-of-charge from the IFAC Web site at http://www.ifac.org. The approved text is published in the English language. Copyright © September 2008 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided that such copies are for use......

Words: 21050 - Pages: 85

The Flash: Season 5 | od 1971 zł | Wise Care 365 Pro 2.71 Build 211 Final