AICPA ETHICS EXAM QUESTIONS COMPLETE WITH CORRECT ANSWERS
\.Ethical Decision Making Model - ANSWERS -helps you actively work through gray area and
choose the best possible solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify the stakeholders
Step 4: Consider your alternatives
Step 5: Consider the effect on stakeholders
Step 6: Consider your comfort level
Step 7: Consider rules, regulations and laws
Step 8: Make a decision
Step 9: Document your efforts
Step 10: Evaluate the outcome
\.Step 1 - ANSWERS -Recognize the ethical issue
\.Step 2 - ANSWERS -Gather the critical facts
-you may not have all the facts, but you need the key ones (material)
\.Step 3 - ANSWERS -Identify the stakeholders
-who is affected by your decisions/actions
, -consider as many as possible
\.Step 4 - ANSWERS -Consider your alternatives
-approaches you could take to address this matter and resolve the ethical conflict
\.Step 5 - ANSWERS -Consider the effect on stakeholders
-effect of each alternative
\.Step 6 - ANSWERS -Consider your comfort level
-how comfortable are you with each option
-how would you feel if you have to discuss your decision in public
\.Step 7 - ANSWERS -Consider rules, regulations, and laws
-rules set by AICPA, state accountancy board, state CPA society
\.Step 8 - ANSWERS -Make a decision
-take the time you need
-discuss with colleague, gain perspectives, counsel, don't be hasty
\.Step 9 - ANSWERS -Document your efforts
\.Ethical Decision Making Model - ANSWERS -helps you actively work through gray area and
choose the best possible solution to an ethical dilema
Step 1: Recognize the ethical issue
Step 2: Gather the critical facts
Step 3: Identify the stakeholders
Step 4: Consider your alternatives
Step 5: Consider the effect on stakeholders
Step 6: Consider your comfort level
Step 7: Consider rules, regulations and laws
Step 8: Make a decision
Step 9: Document your efforts
Step 10: Evaluate the outcome
\.Step 1 - ANSWERS -Recognize the ethical issue
\.Step 2 - ANSWERS -Gather the critical facts
-you may not have all the facts, but you need the key ones (material)
\.Step 3 - ANSWERS -Identify the stakeholders
-who is affected by your decisions/actions
, -consider as many as possible
\.Step 4 - ANSWERS -Consider your alternatives
-approaches you could take to address this matter and resolve the ethical conflict
\.Step 5 - ANSWERS -Consider the effect on stakeholders
-effect of each alternative
\.Step 6 - ANSWERS -Consider your comfort level
-how comfortable are you with each option
-how would you feel if you have to discuss your decision in public
\.Step 7 - ANSWERS -Consider rules, regulations, and laws
-rules set by AICPA, state accountancy board, state CPA society
\.Step 8 - ANSWERS -Make a decision
-take the time you need
-discuss with colleague, gain perspectives, counsel, don't be hasty
\.Step 9 - ANSWERS -Document your efforts
