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Why Ethics Is Presented in Accounting Schools

In: Business and Management

Submitted By doll3655
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A500 Accounting Ethics—Introduction Lecture Outline

* Two Preliminary Questions:

1. Why is ethics taught in accounting, business, and tax schools?

2. Should ethics be taught in accounting, business, and tax schools?

I. Why teach it?:

* Because of these guys and others like them:

Kenneth Lay, Founder Jeffrey Skilling, CEO

B.A. and M.A. in economics from the University of Missouri.

Ph.D. in economics from Houston University.

On May 25, 2006, Lay was convicted of 10 counts of security fraud. On July 5, 2006, while vacationing in Colorado, he suffered a heart attack and died before sentencing. As a result, the federal judge that presided over his trial vacated Lay’s conviction.
B.A. in business from the Southern Methodist University.

M.B.A. from the Harvard Business School (top 5% of class).

Convicted of conspiracy, securities fraud, making false statements, and insider trading.

24-year, four month sentence.
The DOJ in 2013 agreed to reduce it to 14 years in return for Skilling releasing $40 million in restitution to victims, held up by appeals.

Andrew Fastow, CFO

B.A. in economics from Tufts University.
M.B.A. from Northwestern University.

In 2004, he pled guilty to two counts of conspiracy to commit wire and securities fraud, forfeited $30 million, and agreed to testify.
Received a six-year sentence.

Now works 9-to-5 as a document-review clerk at the law firm that represented him in civil litigation.

Gives unpaid presentations on the fraudster lecture circuit.

And let’s not forget:

And

David Duncan
Andersen Partner in charge of the Enron audit team
B.S. in business administration and accounting & finance from Texas A&M University

On April 9, 2002, he pled...

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