CPA group turns up the heat on peers.
Author | Heffes, Ellen M. |
Position | Ethics |
Transparency, one of the new mantras coming out of the recent regulation, is causing accountants to sharpen their scrutiny of ethical compliance and dole out discipline to those from their own ranks who fail to serve the public interest adequately.
"We see ethics, compliance with ethics and having strong ethical standards and a strong system of discipline to support those standards as very important in maintaining the public image of CPAs," says Ian Benjamin, the volunteer Chairman of the Professional Ethics Committee (PEC) of the New York State Society of CPAs (NYSSCPA).
So, according to bylaw amendments passed in July, professional ethics violations by members of the NYSSCPA will now be brought to the attention of the New York State Education Department--the licensing authority for CPAs working in New York, as well as other appropriate agencies.
In essence, the new bylaws have inserted an additional layer to further protect the public, explains Benjamin, a CPA and managing director for American Express Tax and Business Services. "As a volunteer professional organization, the state society can provide sanctions as they relate to membership, but further discipline, etc., is doled out by other levels, such as the Education Department." He notes, however, that really "we are only talking about a very small percentage of the professionals, as the vast majority of the group's 30,000 members do comply."
Why the change now? He says that much attention is being given to the group's ethical procedures--how it disciplines, what it does and the timeliness of action. After reviewing its processes, the Ethics Committee has recommended the changes. Benjamin adds, "They came about partly because of a request from the State Education Department for us to consider sharing information with them about members under investigation."
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