give a description of the occurrence of fraud

Give a description of the occurrence of fraud you selected from the to prepare information below and answer the following questions:

1. Which professional organization’s ethical standards are most applicable to the occurrence of fraud, and why?

2. How was the ethical lapse handled by the company’s management team?

3. Compare how each of the four professional organizations would evaluate the fraud. How much of a difference is there from organization to organization in evaluating the fraud in terms of their ethical standards?

4. How has reviewing the ethical standards affected how you think of ethics in your own professional experiences or in general? Do you think that application is likely to change in the near or distant future?

To prepare:

o Review the articles and the ethical guidelines of the four professional organizations provided in this week’s Learning Resources [American Institute of CPAs, Association for Financial Professionals (AFP), Certified Financial Planner Board of Standards (CFP), and the CFA Institute]. Choose two key concepts/ethical standards and consider their significance.

o Compare the ethical standards for each of the four professional organizations (AFP, CPA, CFA, and CFP).

o Go to the Public Company Accounting Oversight Board’s “Enforcement” webpage, located in this week’s Resources area. Click on either “Settled Disciplinary Orders” or “Adjudicated Disciplinary Orders and Opinions” and look at the fraudulent activities that have occurred in publicly traded companies. Select an occurrence of fraud.

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