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| Author : | Patricia McCarthy, MBA |
| Course Length : | Pages: 3 ||| Review Questions: 5 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $14.95 |
| Passing Score : | 70% |
| Course Type: | Video - NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Regulatory Ethics - Regulatory Ethics for Course Id 817 |
| Description : | This course is a Video. It is considered self-study. PowerPoint slides and a copy of the exam are also included. 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 to $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. |
| Usage Rank : | 15882 |
| Release : | 2015 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Ponzi Scheme: Definition, Examples, and Origins
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 01-Mar-2024 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | Video - NASBA QAS - Text - NASBA Registry - 817 |
| Keywords : | Regulatory Ethics, Bernard, Madoff, Investment, Securities, Auditor, Case, Study, AICPA, Code, Conduct, Video, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
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| Course Contents : | Chapter 1 - Bernard Madoff Investment Securities’ Auditor – A Case Study In the AICPA Code of Conduct · Topics covered: · Madoff – Ponzi Scheme · SEC Complaint · AICPA Code of Conduct Chapter 1 Review Questions |
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Virginia Ethics for CPAs in Business - 2024 (2 Hrs)