ETHICS ISSUES IN BUSINESS AND ACCOUNTING

Unit 1 Assignment 2

Details and Rubric

Read the ethics case listed below and answer the questions associated with that case.

Assignment 2: Bernie Madoff Scandal Case Study

Read the ethics case, “Bernie Madoff Scandal–The King of Ponzi Schemes,” on pp. 127–136 in your textbook.

Then, read the Forbes article, “Why the SEC Missed Madoff,” located at:

http://www.forbes.com/2008/12/17/madoff-sec-cox-business-wallst-cx_em_bw_1217ponzi.html

Finally, read the SEC article, “The Securities and Exchange Commission Post-Madoff Reforms.”

U.S. Securities and Exchange Commission. (2012, April 4). The Securities and Exchange Commission post-

Madoff reforms, located at: http://www.sec.gov/spotlight/secpostmadoffreforms.htm

Write a 3–5-page paper summarizing the case and its implications on corporate and accounting governance.

Make sure you thoroughly summarize the case, highlight key players and their role in the fraud, and discuss

the impact on accounting governance, including references to reforms undertaken by the SEC and the efficacy

of self-regulation in the form of FINRA.

AC504: Bernie Madoff Scandal Case Study

Criteria for Assignment Grades Points
Possible

Points
Earned

Content:
Provides a thorough summary of the case.

50

Analysis and Critical Thinking:
Clearly discusses how the scandal affected the accounting profession and the
governance structure.

30

Writing Style, APA, and Grammar:
Organized and clearly written; includes title page; lack of spelling/grammar errors;
includes proper in-text citations; includes reference list.

20

Total Points 100