New York -- There is more bite to the ethics process in New York State, as its CPA society now requires its Professional Ethics Committee to share violations with authorities.
In some cases, the PEC will inform authorities about its investigations before a final determination is rendered on the alleged violations. The new bylaw also requires the PEC to turn over requested statements, copies and other materials relating to investigations.
The NYSSCPA is the first state society to put this process into effect.
PEC disclosure is automatic if a member fails to cooperate with the PEC or is granted a deferral of an investigation by the PEC; if a complaint is referred to the joint trial board; if an investigation results in suspension or termination of membership; if a letter of required corrective action has been accepted by a member; and if an investigation results in automatic suspension or termination of membership.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access