The Madoff Investment Scandal: A Case Study In The AICPA Code Of Conduct

2 Credits: Behavioral Ethics


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The Madoff Investment Scandal: A Case Study In The AICPA Code Of Conduct

Course Level
CPE Credits

2 Credits: Behavioral Ethics

Course Description

This course delves into the infamous Bernard Madoff Investment Securities LLC fraud to explore the critical importance of ethical conduct in accounting. Through a detailed case study of Friehling & Horowitz CPA’s P.C., the auditing firm involved, participants will examine the application and violation of the AICPA Code of Professional Conduct. The course covers key components of ethical standards, including independence, confidentiality, and acts discreditable, and outlines the ethical safeguards prescribed by the AICPA.

The benefits of this online self-study CPE course extend far beyond academic learning. By exploring this real-world case, participants will gain insights into the practical application and critical importance of ethical standards in the accounting profession. Understanding the consequences of ethical misconduct and the role of the AICPA Joint Ethics Enforcement Program in disciplinary actions equips participants with the knowledge to prevent similar occurrences in their practice. This course is vital for professionals committed to maintaining the highest standards of integrity and professionalism in accounting, ensuring they are well-prepared to navigate ethical challenges in their careers.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize professional conduct expected of a certified public accountant and consequences of misconduct under AICPA guidelines;
  • Recognize key components of the AICPA Code of Professional Conduct with regard to independence;
  • Recognize the AICPA Code of Professional Conduct rules on confidential information and acts discreditable;
  • Identify ethical safeguards as outlined by the AICPA; and
  • Recognize the AICPA Joint Ethics Enforcement Program and its disciplinary actions
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Course Specifics

Course ID
Revision Date
October 26, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Joseph Helstrom Headshot

Joseph Helstrom, CPA, is a partner at CFO Resources, LLC, a company focused on training and courseware for CPAs. He’s also the owner of Mill Creek Publishing LLC. Joe has over 30 years of experience as a CPA in both public accounting and industry, with extensive experience in financial reporting and analysis, treasury, tax, information technology, legal and regulatory matters, and strategic planning. After graduation from Butler University with a degree in accounting, Joe got his start at Ernst & Young. Subsequent to that, he has served for several different companies as a chief financial officer; director of treasury and …