No CPA Ethics Exam Required in Florida
To become a certified public accountant (CPA), a test is required. Every state’s testing process and requirements are different. Some require U.S. citizenship and state residency, while others do not. Some require more education than others.
The exam typically consists of multiple sections. Most states even require applicants to pass an ethics exam. Florida, however, is just one of a few states that does not. The state also does not have any residency requirements. You don’t even need to be a U.S. resident, but you do need a Social Security number.
The CPA test consists of four parts:
- Financial Accounting and Reporting
- Auditing and Attestation
- Business Environment and Concepts
Testing of skills and knowledge related to ethics, however, is not given in Florida. This is concerning, considering that ethics is a huge part of being a CPA. CPAs work in the areas of accounting, auditing and taxes. Essentially, they work with money—an area known for fraud. Any unethical issues in the field can lead to serious penalties for a CPA, including license suspension and revocation.
There have been numerous accounting scandals in the past 40 years. Many companies and individuals have been charged with fraud over the years, forcing many businesses to shut down.
Ethical Principles in Accounting
All CPAs are bound by ethics. They have a responsibility to uphold the highest level of ethics in all their transactions. They should work toward serving the public’s interest, which includes clients, governments, employers, investors and the business community.
There are often no clearly defined rules for CPAs, which makes it easy to be unethical. However, CPAs must act with integrity at all times. They must do what is right at all times. If they know it is wrong, then they should avoid doing it. It’s pretty straightforward, as it’s a standard everyone should live by, no matter their profession.
CPAs must also be objective and independent. This is because the relationships they have with their clients can lead to financial gain. They must avoid conflicts of interest at all costs. This involves reviewing client lists, establishing quality control policies, signing agreements and continually assessing their client relationships.
Due care is also important. CPAs must always serve clients to the best of their abilities. To do so, continuing education may be required, as things are always changing. They may be required to seek consultation from mentors and ensure adequate planning and supervision.
Keep Your License With Help From a Tampa Certified Public Accountant Licensing Lawyer
Florida does not require prospective CPAs to take an ethics exam, but that does not mean that CPAs do not need to differentiate between right and wrong. Engaging in unethical issues can lead to punishment such as license loss.
If you are facing administrative issues due to unethical decisions, don’t handle the situation on your own. Get help from Tampa certified public accountant licensing lawyer David P. Rankin. He can quickly resolve your matter so you don’t risk your career and livelihood. To schedule a consultation, fill out the online form or call (813) 968-6633.