This course provides an overview of ethical challenges and dilemmas that accountants frequently face and provides strategies for dealing with those dilemmas.
The course draws on several real-world frauds to illustrate the “slippery slope” that often leads to fraudulent behavior. The course also covers the three elements of the “The Fraud Triangle”, providing insight into the conditions that can result in fraud.
This course covers the Professional Ethics material contained in the content specification outline for the Certified Management Accountant (CMA) Part 2 examination.
Topics include:
- Ethical considerations for accounting professionals.
- Ethical dilemmas.
- Examples of fraud.
- Strategies for dealing with ethical dilemmas.
- The Fraud Triangle.
- Differences between legal and ethical behavior.
- Ethical aspects of the Foreign Corrupt Practices Act (FCPA) and the Sarbanes-Oxley Act (SOX).
- Ethical considerations for accounting organizations.
Course Key Concepts: Ethics, ethical behavior, fraud, collusion, embezzlement, Sarbanes-Oxley (SOX), Financial Corrupt Practices Act (FCPA), WorldCom fraud, Sunbeam fraud, The Fraud Triangle, Institute of Management Accountants (IMA) Statement of Ethical Professional Practice.
Learning Objectives
- Explore the four standards of the Institute of Management Accountants (IMA) “Statement of Ethical ProfessionalPractice”, competence, confidentiality, integrity, and credibility.
- Recognize how ethical issues such as manipulation of results, analysis, and budgets can develop.
- Identify the appropriate course of action for management accountants to take when confronted with an ethical dilemma.
- Identify the three components of the Fraud Triangle model.
- Identify the purpose of the Foreign Corrupt Practices Act (FCPA) and the practices it prohibits
- Identify the requirements of Sarbanes-Oxley Act (SOX) Section 406, Code of Ethics for Senior Financial Officers.
- Distinguish between ethical behavior and legal compliance.
- Identify the key elements of a conflict of interest provision.
- Explain the importance of ethical codes of conduct for organizations.
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Prerequisites
No advanced preparation or prerequisites are required for this course.
I enjoyed the course, but why do we only get 2 hours of CPE when the continuous play video is 2.5 hours? Seems like this should be adjusted.