CPAs and Financial Crisis Homework
CPAs and Financial Crisis Homework

CPAs and Financial Crisis Homework

Lead Author(s): Lumen Learning, Linda Williams

Source: Lumen Learning

Student Price: FREE

A homework assignment designed to help students understand the role that CPAs played during the 2008 financial crisis.

CPAs and Financial Crisis Homework

Part 1: Preparation

Watch the two videos posted below:


Follow the link to the AICPA’s Web site, and read Section 53 (Article II): The Public Interest: AICPA Code of Professional Responsibility Section 53

Follow the link and read the Wikipedia article: “The Financial Crisis of of 2007–2008.

Part 2: For Discussion

Consider what you have read in your course materials, watched in the videos, learned from the Wikipedia article and from what the AICPA Web site says about ethics and the duty of the CPA in regard to the public interest. Based on this information, respond and discuss to the following statement:

D1

“CPAs should have been able to prevent the global financial crisis of 2007–2008.” Do you agree or disagree? Support your position.

​Part 3: Respond to Classmates’ Posts

Instructions

After you have created your initial post, look over the discussion posts of your classmates and give at least two thoughtful responses to two different classmates (one per classmate).

A response posting should be a minimum of one short paragraph. Word totals for these posts should be in the 75–100-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate. The goal of your response posts is to extend discussions already taking place or pose new possibilities or opinions not previously voiced. Your goal should be to motivate the group discussion and present a creative approach to the topic.



Discussion: CPAs and Financial Crisis. Authored by: Linda Williams and Lumen Learning. License: CC BY: Attribution

Financial Fraud Public Service Announcement. Provided by: FBI. Located at: https://youtu.be/h6C5yBQTApE. License: All Rights Reserved. License Terms: Standard YouTube License

Bank Official Discusses Laundering Money. Provided by: FBI. License: All Rights Reserved. License Terms: Standard YouTube License