The AICPA’s Professional Ethics Executive Committee (PEEC) is asking for feedback on future standard setting items. They have identified potential issues and practice areas where either updated standards are needed or additional member education.

Under consideration are:

  • Prevalent issues in the profession
  • Benefit to the public interest
  • Technological change
  • Changes in auditing and accounting standards
  • Education and tools to assist members
  • Degree of urgency in addressing matters

This is your opportunity to help set the agenda for the committee that writes the Code of Professional Conduct. They are looking for your input to determine whether they are on the right track. Did they miss anything? Anything on there not really necessary?

You can read the 19-page Strategy and Work Plan consultation paper here:

https://www.aicpa.org/content/dam/aicpa/interestareas/professionalethics/community/downloadabledocuments/peecstrategy-workplan-consultation.pdf

Comments are due by Feb. 28, 2020, and should be emailed to ethics-exposuredraft@aicpa.org.

All written replies to this consultation paper will become part of the AICPA’s public record. Each response will be available on the PEEC Project Activity page at www.aicpa.org/peecprojects. After the comment period has concluded and PEEC has evaluated your comments, the most significant items of public interest will be prioritized, and future projects in the AICPA Professional Ethics Division’s project agenda will be published at www.aicpa.org/PEEC.

What questions do you have? Send your questions to melisa@galassolearningsolutions.com.

Upcoming Broadcast Note: Join Melisa Galasso at 9 p.m. on Tuesday, Dec. 10, for a one-hour credit A&A Rebroadcast Course on “The New AICPA Auditor’s Report,” a must-see for auditors. During SCACPA’s broadcast, Melisa will monitor a live Q&A chatroom.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa was a speaker on audit topics at SCACPA’s 2019 Fall Fest and Spring Splash accounting conferences. She also takes part in many SCACPA seminars and rebroadcasts.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

You can read SCACPA’s Q&A with Melisa conducted during some break time at Spring Splash here.