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Course Details

Bernard Madoff Investment Securities Auditor - A Case Study in the AICPA Code of Conduct - 2016 (Course Id 797)

Updated / QAS / Registry   Add to Cart 
Author : Patricia McCarthy, MBA
Status : Production
CPE Credits : 2.0
IRS Credits : 0
Price : $29.95
Passing Score : 70%
Primary Subject-Field Of Study:

Behavioral Ethics - Ethics for Course Id 797

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.

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 : 0
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 21-Mar-2016
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 :

NASBA QAS - NASBA Registry - 797

Keywords : Behavioral Ethics, Bernard, Madoff, Investment, Securities, Auditor, Case, Study, AICPCode, Conduct, 2016, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

• Describe the AICPA Code of Professional Conduct
• Describe the AICPA Joint Ethics Enforcement Program
Course Contents :

Chapter 1 - Bernard Madoff Investment Securities’ Auditor – A Case Study in the AICPA Code of Conduct

Course Learning objectives

Case Study Overview

About Friehling & Horowitz CPA’s P.C. 

Friehling & Horowitz Compensation from Bernard Madoff Investment Securities LLC

The Ponzi Scheme

Bernard Madoff Investment Securities LLC Investors

Madoff Arrest and Sentencing

Friehling & Horowitz Audit Procedures and the SEC Complaint

Friehling’s Sentence

Friehling’s Ethics Complaint

Friehling’s Loss of CPA License

The AICPA Code of Professional Conduct

Preface

Part 1 – Members in Public Practice

Rule 1.100 Integrity and Objectivity

1.130 Preparing and Reporting Information

1.200 - Independence

Review Questions

 

Rule 1.300—General Standards Rule

1.310 Compliance with Standards Rule

1.320 Accounting Principles Rule

1.400.001 Acts Discreditable Rule

1.510.001 — Contingent Fees Rule

1.520.001—Commissions and referral fees Rule

1.600.001 —Advertising and other forms of solicitation

1.700.001— Confidential client information rule

1.800.001—Form of organization and name rule

Part 2 – Members in Business

2.100.001 – Integrity and Objectivity Rule

2.130.030 Obligation of a Member to His or Her Employer’s External Accountant

2.300.001 — General standards rule

2.310.001—Compliance with standards rule

2.320.001—Accounting principles rule

2.400.001 Acts Discreditable Rule

2.400.070 Confidential Information from employment or volunteer activities

Part 3 – Other Members

3.400.001 - Acts discreditable rule

3.400.070 Confidential Information from employment or volunteer activities

Joint Ethics Enforcement Program

Overview

Complaint Receipt

Complaint Evaluation

Investigation Procedures

Automatic Discipline

Review Questions

 

Glossary

Behavioral Ethics Course 797 Home: https://www.cpethink.com/aicpa-based-ethics-for-cpas
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