Boston Tax Institute, Accounting Ethics

Below is the course description for my Accounting Ethics course with the Boston Tax Institute.  The major case study changes every year.  Two years ago it was AIG.  Last year it was Lehman Brothers.  A possible case for this year is MF Global.


is a ½ day seminar (4 credits on Ethics) led by Michael Pakaluk, Ph.D., author of Understanding Accounting Ethics and Senior Research Consultant for Audit Analytics. The seminar begins with a case study – allegations of accounting fraud in the Lehman Brothers Repo 105 case – and considers generally the role that a failure of accounting ethics played in the financial crisis. The case raises the question of what professionalism means, and so we next look at the earliest Code of Professional Conduct for accountants and consider the concept of a profession which accountants originally accepted. Then we consider the question of whether accounting has become transformed from a profession to a business, the reasons for this, and what should be done in response. Other issues considered include: substance over form; rules in relation to principles; and whether following GAAP is enough. (12/5 AM)