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| Author : | Joseph P Helstrom, CPA |
| 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 |
| Frequently Asked Questions : |
1. Who is this list of CPE courses for?
This CPE course is designed for CPAs, accountants, and other professionals seeking Continuing Professional Education who want to strengthen their understanding of regulatory ethics and the AICPA Code of Professional Conduct. 2. What is this list of CPE courses about or what problem does this course solve? This video-based self-study course uses the audit of Bernard Madoff Investment Securities LLC as a case study to examine the AICPA Code of Professional Conduct. It explores how failures to follow professional ethical standards contributed to one of the largest financial frauds in U.S. history and illustrates the importance of ethical conduct in the auditing profession. 3. Why is this list of CPE courses important to a CPA or Accountant? This course helps CPAs and accountants better understand how the AICPA Code of Professional Conduct applies in practice by examining an actual audit engagement in which key ethical principles were not followed. The case study reinforces the importance of professional responsibility, ethical decision-making, and adherence to established standards. 4. When is this list of CPE courses relevant or timely? This course is relevant whenever CPAs and accountants want to strengthen their understanding of professional ethics, auditor responsibilities, and the application of the AICPA Code of Professional Conduct through a real-world case study. 5. Where can this list of CPE courses be found and accessed? This video-based self-study course can be accessed through the CPE Think online course catalog, where participants can view the instructional video, use the accompanying PowerPoint slides and exam copy, complete the final examination, and earn CPE credit. 6. How is a list of CPE courses like this consumed or used? Participants watch the instructional video, review the accompanying PowerPoint slides and supporting materials, complete the review questions and final examination with a minimum passing score of 70%, and earn 1.0 CPE credit upon successful completion. |
| 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 : | 16429 |
| Release : | 2015 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
External: Ponzi Scheme: Definition, Examples, and Origins
Internal: Regulatory Ethics CPE Courses for CPAs
Internal: AICPA Based Ethics CPE For CPAs
External: AICPA Code of Professional Conduct - overview article (Thomson Reuters)
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 02-Apr-2026 |
| 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 : | Bernard Madoff Investment Securities Auditor - A Case Study In the AICPA Code of Conduct (Video) - CPE course for CPAs |
| 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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