Accountants working in various disciplines have been involved in litigation resulting from or exacerbated by a conflict of interest or the appearance of a conflict of interest. Failure to identify an actual or potential conflict of interest and to disclose or avoid it can lead to expensive legal fees, loss of a client or employment, a claim against malpractice insurance, bad publicity, or an unflattering and enduring case study in a business school textbook.

The absence of any conflict of interest is a prerequisite to achieving the professional integrity, objectivity, and independence required by various rules regulating the professional conduct of an accountant. Rules from many sources govern the professional conduct of an accountant. Federal and state legislatures, Federal and state governmental agencies and boards, securities exchanges, national and state societies, and various professional organizations promulgate rules governing the professional conduct of accountants. An accountant's firm or other employer may have rules regarding conflict of interest. Different rules may govern different services offered by accountants (such as audit, tax, and nonattest services) whether in public accounting, in government, or in a business or a not-for-profit organization.

This OnDemand Webinar provides critical knowledge necessary for accounting professionals to identify situations where a conflict of interest may exist and helps identify the relevant rules governing a situation. It also helps an accountant determine whether an accountant can be protected from a conflict of interest or whether a conflict of interest must be eliminated or disclosed.