Course Description and Competencies

What to Expect

[In this course, you will work through four modules, which are divided into eight chapters. Throughout the material, you will find readings, case studies, comprehensive questions, and discussion questions. You will also find knowledge checks that help you test your understanding. Engaging with these activities reinforces new learning. It also complements the knowledge you bring to this area of study. 

Course Competencies

This course covers the following competencies:

  • The learner applies ethical reasoning and objectivity to analyze ethical situations.
  • The learner applies the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct and the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice to situations involving organizational ethics, corporate governance and independence.
  • The learner analyzes auditor responsibilities, corporate governance, and motivations for fraudulent financial reporting.
  • The learner explains auditors’ legal liabilities, defenses, and legislative acts.

Assessment

This course requires the successful completion of two performance assessment tasks and one final exam. These assessments provide an opportunity to demonstrate your mastery of the competencies in this course. You may attempt each assessment two times before additional support is necessary. If you require further attempts, please contact your Student Experience Team. 

1 Final Exam
2 Tasks
3 Competency Units

Course Outline

ModuleUpon completion of this module, you will be able to:
Analyzes Ethical Situations Chapters 1-2
  • Discuss the relationship between ethics, values, and ethical decision making.
  • Describe how professional accountants serve the public interest and their obligations under the AICPA Code.
  • Analyze the thought processes involved in, and the impact cognitive biases have on, making decisions and taking ethical action.
  • Explain Rest’s Model and how its components influence ethical decision making.
  • Describe the link between organizational culture, ethical climate, ethical leadership, and ethical decision making.
Applies Code of Conduct and Ethical Professional Practice Chapters 3-4
  • Identify the causes of fraud, detection methods, and preventative controls.
  • Describe the scope and role of corporate governance systems in the ethical decision-making process.
  • Demonstrate how to apply the threats and safeguards approach to independence, and the process to resolve ethical conflicts that may cause violations of the rules.
  • Illustrate how the conceptual framework keeps possible violations of integrity and objectivity in check for CPAs in business.
  • Evaluate the ethics rules for tax practice and how they are influenced by the realistic possibility standard. 
Responsibilities, Corporate Governance, and Motivations Chapters 5-7
  • Distinguish between audit requirements for errors, fraud, and illegal acts.
  • Explain the standards for audit reports.
  • Describe the characteristics of earnings management.
  • Explain how errors in accounting and reporting can trigger restatements.
  • Describe the characteristics of ethical leadership and explain how ethical leadership can positively influence earnings management.
Legal Liabilities, Defenses, and Legislative Acts
Chapter 8
  • Summarize common-law rulings and auditors’ legal liabilities to clients and third parties.
  • Explain auditor defenses to negligence, negligent misrepresentation, and fraud.
  • Outline the basis for auditors’ statutory legal liability.
  • Explain the provisions of the PSLRA and FCPA.
  • Examine auditors’ legal liabilities under SOX.

Technology Requirements

We want you to have the tools to succeed! Since this course includes at least one proctored test, please be sure to have a working microphone, speakers, and an external webcam. Unfortunately, an internal webcam (built into many laptops) is not acceptable. (Note: The external webcam is required only for exams that have proctors. You do not need one for practice tests and other non-proctored assessments.) If you haven't already, be sure to download the Meazure Learning Guardian browser, which you will need for the proctoring system.

You will need Adobe Acrobat Reader DC. If you haven't already, download this free software. You may encounter an interactive form that contains fields that you can select or fill in. Review how to fill in a PDF form.

For other details about the technology you'll need, review the Computer System and Technology Requirements. If you have questions about your setup, contact support@academy.wgu.edu.

Key Contacts

Resource Hub
Check out the Course Lobby to take advantage of course resources, including videos and tips from our educators. There, you can ask and answer questions, provide feedback on your progress, and connect with fellow students. You will find this platform in the Student Resources section of the course. Log on and do some exploring! 

Technical Support
If you encounter technical issues, be sure to contact the Help Desk. Just submit a Support Request for assistance.

Program Support
Do you have questions about your account? Student Support has answers. They can help with billing, switching courses, and other requests. You can contact them at (888) 320-0540 or support@academy.wgu.edu.

Accommodations

WGU provides compliant and accessible learning experiences. If you require accommodation, please contact us at the start of the course. You can email disability@academy.wgu.edu.

We are committed to ensuring that all students with disabilities have equal access to WGU's services and materials. We strive to use best practices for accessibility. Our goal is to conform to existing U.S. laws, including the Americans with Disabilities Act and Section 504 and Section 508 of the Rehabilitation Act.

Our learning management system (LMS) platform is Open edX. Open edX’s commitment to accessible content is published in their Website Accessibility Policy.