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Madoff: A Case Study in the AICPA Code of Conduct (OFMC)

Customer Rating
Field of Study
Regulatory Ethics
Level
Overview
Credits
2
Qualifies For
CPE



Price:  $19.99
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. Many are astounded to hear that Bernard Madoff Investment Securities LLC 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.

Additional information

Credits

2

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Regulatory Ethics (Technical) (2)

Field of Study Department

Regulatory Ethics (Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

None

Knowledge Level:

Overview

Major Topics:

  • Madoff’s Ponzi Scheme 
  • Madoff Arrest and Sentencing 
  • The AICPA Code of Professional Conduct

Learning Objectives:

  • Describe the AICPA’s Code of  Professional Conduct
  • Describe the AICPA Joint Ethics Enforcement Program

Designed For:

All CPAs
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