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Goodman, a member, is retired after working as the CFO of Furey, Inc. for twenty years. During his time at Furey, Inc. he also did some tax preparation work on the side. In addition, Goodman taught accounting classes at the local university but will no longer do that in retirement. Which of the following actions would be considered an Act Discreditable according to the Code?
a) Making a decision not to maintain his continuing education nor his CPA license beyond the end of the current license period and therefore ending his membership in the AICPA
b) Deciding to put his personal tax return on extension
c) Deciding to teach for a CPA review course
d) None of the above

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Answer:

Goodman, a member, is retired after working as the CFO of Furey, Inc. for twenty years

The action that would be considered an Act Discreditable according to the Code is:

d) None of the above

Explanation:

Under the Acts Discreditable Rule 2.400.001, a member or retired member would be considered to be in violation of the code if he or she commits any of the following offenses: Discrimination and Harassment in employment matters, Solicitation or disclosure of CPA examination questions and answers without permission, Negligence in the preparation of financial statements or records, or Failure to file a tax return or pay a tax liability.  This implies that Goodman can make any of the option decisions without violating the code.

Goodman, a member, is retired after working as the CFO of Furey, Inc. for twenty years :

The action that would be considered an Act Discreditable according to the Code is:

d) None of the above

  • Code violations under Acts Discreditable Rule 2.400.001 if a member or retired member commits any of employment discrimination or harassment, unauthorized solicitation or disclosure of CPA exam questions and answers, or negligence in annual preparation is considered.
  • Filing financial statements or records, or filing tax returns or defaulting on tax obligations.  
  • This means that Goodman can make option decisions without breaking the code.

Thus, the correct answer is d.

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