Course Information
Madoff: A Case Study in the AICPA Code of Conduct
Course Information
| Title: | Madoff: A Case Study in the AICPA Code of Conduct |
|---|---|
| Category: | Ethics |
| Field of Study: | Regulatory Ethics |
| Course Code: | M050 |
| CPE Credits: | 2.0 |
| Price: | 29.00 |
Description
Description:
Bernard Madoff Investment Securities LLC was the source of the largest financial fraud in US history. Madoff perpetrated a simple Ponzi scheme whereby older investors were paid with newer investor funds, thus providing the impression of actual investment returns. The extent of the losses related to Madoff’s Ponzi scheme have been estimated at $50 – $65 billion. BThe investment firm was audited by a CPA. Unfortunately, Madoff’s CPA apparently did not subscribe to the AICPA Code of Conduct as most of the rules contained in the code were ignored. What follows is a case study examining the conduct of Friehling & Horowitz CPA’s P.C., the CPA firm that audited Bernard Madoff Investment Securities LLC, within the context of the AICPA Code of Professional Conduct.
Delivery Method: Online Interactive Self Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
Course Details
Category: Ethics
Field of Study: Regulatory Ethics
Passing Score: 70%
Technical Details:
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Objectives
Objectives:
1. Recognize professional conduct expected of a certified public accountant and consequences of misconduct under AICPA guidelines. 2. Recognize key components of the AICPA Code of Professional Conduct with regard to independence. 3. Recognize the AICPA Code of Professional Conduct rules on confidential information and acts discreditable . 4. Identify ethical safeguards as outlined by the AICPA. 5. Recognize the AICPA Joint Ethics Enforcement Program and its disciplinary actions
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Profession
NASBA: Yes
QAS: Yes
CPA: Suitable for all CPAs
IRS: No IRS credit for Enrolled Agents.
Profession Identifiers: CPA