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This course provides an overview of ethical challenges and dilemmas that accountants frequently face and provides strategies for dealing with those dilemmas. 

 

The course draws on several real-world frauds to illustrate the “slippery slope” that often leads to fraudulent behavior. The course also covers the three elements of the “The Fraud Triangle”, providing insight into the conditions that can result in fraud.

 

This course covers the Professional Ethics material contained in the content specification outline for the Certified Management Accountant (CMA) Part 2 examination. 

 

 

Topics include: 

  • Ethical considerations for accounting professionals.
  • Ethical dilemmas.
  • Examples of fraud.
  • Strategies for dealing with ethical dilemmas.
  • The Fraud Triangle.
  • Differences between legal and ethical behavior. 
  • Ethical aspects of the Foreign Corrupt Practices Act (FCPA) and the Sarbanes-Oxley Act (SOX). 
  • Ethical considerations for accounting organizations.

Course Key Concepts: Ethics, ethical behavior, fraud, collusion, embezzlement, Sarbanes-Oxley (SOX), Financial Corrupt Practices Act (FCPA), WorldCom fraud, Sunbeam fraud, The Fraud Triangle, Institute of Management Accountants (IMA) Statement of Ethical Professional Practice.

Learning Objectives

  • Explore the four standards of the Institute of Management Accountants (IMA) “Statement of Ethical ProfessionalPractice”, competence, confidentiality, integrity, and credibility.
  • Recognize how ethical issues such as manipulation of results, analysis, and budgets can develop. 
  • Identify the appropriate course of action for management accountants to take when confronted with an ethical dilemma.
  • Identify the three components of the Fraud Triangle model.
  • Identify the purpose of the Foreign Corrupt Practices Act (FCPA) and the practices it prohibits
  • Identify the requirements of Sarbanes-Oxley Act (SOX) Section 406, Code of Ethics for Senior Financial Officers. 
  • Distinguish between ethical behavior and legal compliance. 
  • Identify the key elements of a conflict of interest provision.
  • Explain the importance of ethical codes of conduct for organizations.
Last updated/reviewed: May 14, 2022

88 Reviews (487 ratings)Reviews

5
Anonymous Author
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4
Anonymous Author
Good training course. Effective overview of the material and information presented in a concise, clear way.
4
Anonymous Author
instructor provided an interesting overview and good examples
4
Anonymous Author
A little bit long and run on in some area, but overall a good course. I think some clarification on Arthur Anderson would be ideal. They did have bad partners in multiple engagements, but to categorize the entire firm, in light of the comments towards other business stating "I'm not attacking this company," was not the most efficient use of the training time. I think that clarity would make that area more impartial and less of an attack on that firm.
5
Anonymous Author
This is a good course to remind employees of company ethics, policies and procedures. It is also a reminder that anyone, including upper management, can be involved in shady practices; therefore, make sure to question anything that looks suspicious or doesn't make sense to you, especially if you book entries for the company.
5
Member's Profile
Tom this is a neat course. The ethics underpins all of human behavior and you do an excellent job of explaining how CMA's are co-joined in the efforts to mainatin credibility, integrity, and competence. Makes for a more meaningful and purposeful exisitence. Thanks for the course. Larry
5
Member's Profile
One of the more thorough treatments of ethics for the accountant courses that I have experienced. A detailed look at the pillars of the Institute of Management Accountants ethics framework and ample consideration of real-world examples and case studies. Covers the topic very well!
5
Anonymous Author
This course was a great refresher on ethics, including descriptions of the fraud triangle and specific regulations established for ethical purposes. Discussion of the real-world examples was also helpful in explaining the course material.
5
Anonymous Author
Thorough coverage of circumstances which may encourage unethical behavior and laws in place to provide accountability for such behaviors. Real world examples provided are interesting learning tools for understanding unethical behavior.
4
Member's Profile
This course is a good quick review of ethics rules. I particularly like the review of Sarbanes Oxley and the myriad of rules and regulations that financial professionals need to be aware of. thank you!
5
Anonymous Author
well done course, good refresher. I liked that it gave examples of ethical dilemmas in the workplace, and touched on the fraud triangle reenforcing how management should be acting at a high level.
5
Member's Profile
Great overview to provide student with ethics overview. Includes descriptions of applicable laws but also some good examples of ethical issues known to have occured at larger companies.
5
Member's Profile
Ethics is always a good topic. It is interesting that some people still think laws and ethics are the same thing, so it is always nice to see that being addressed in these courses.
5
Member's Profile
Interesting stories to illustrate the objectives was appreciated. Also I found that his scenarios made the principles a LOT more relatable, which is what really matters anyway.
4
Member's Profile
I think it provides a good understanding why it is important to have good internal controls and why upper management must set the correct tone in an organization.
4
Member's Profile
I found the amount of corruption that the course outlines astonishing. The greed of the upper management of companies must be punished more harshly.
5
Anonymous Author
This is my first course which is written by Tom. Over all it is very interesting and informative - just what I have been expecting to see. Thank you.
5
Anonymous Author
Great course. Stated learning objectives were met. Program materials were relevant and contributed to the achievement of the learning objectives
5
Member's Profile
Very thorough and informative. Many historical aspects and case studies were provided to understand the evolution of ethics programs over time.
5
Member's Profile
Very practical information. The real life examples are shocking but its nice how he brings the topics to those real examples. Great speaker
5
Member's Profile
Great refresher of ethics. Reminded me of my college audit class, important to refresh the mind each year to see how ethics are handled.
4
Anonymous Author
This course was a great way to refresh myself on a lot of the stuff I learned in my financial accounting and ethics courses in college.
5
Member's Profile
Material was relevant to topic. The final exam actually covered items that were discussed in the course. Instructor was knowledgeable.
4
Anonymous Author
This course provided a nice overview of ethics for accountants. It give's you good insight on why fraud often occurs in organizations.
5
Anonymous Author
This was a great course. The fraud triangle is very important to reiterate how easy it is for people to rationalize their bad deeds.
5
Member's Profile
Quite thorough and well researched. Appreciated the following sections on the code of conduct and conflicts of interest statements.
5
Anonymous Author
Great introduction course for ethics in accounting which covers Sarbanes Oxley. The instructor provided great real world examples.
5
Member's Profile
Great course! I truly learned a lot! I will recommend it to all of my peers. This is a great refresher that will come in handy.
5
Anonymous Author
Very well rounded ethics course. Would have appreciated 2.5 hours of CPE vs 2 hours of CPE since videos were 2.5 hours long.
5
Anonymous Author
Professional Ethics for Accountants is a great course. It is easy to follow and a good review for me on this ethics topic.
5
Member's Profile
This has been my favorite course so far! Lots of interesting real-world examples to enhance understanding of the concepts.
5
Anonymous Author
Clear and concise slides for reference and interesting real life examples that makes it easy to understand the concepts.
5
Anonymous Author
Great course on the Professional Ethics of Accountants - provided good overview of the key guidance and considerations.
4
Member's Profile
Great ethics discussion. The presenter was knoledgeable and eloquent. The links to the cases was also very relevant.
5
Anonymous Author
Solid outline and nice examples to walk through. I liked the reminders on the fraud triangle and why SOX came about.
5
Anonymous Author
Interesting course on ethics covering a lot of the famous frauds throughout history. Entertaining and educational.
5
Member's Profile
This was a great refresher on ethics. I always enjoy learning about ethical situations and their implications.
5
Member's Profile
Great course, it outlines the information in both a clear and concise manner and is useful to objectives of CPA.
4
Member's Profile
very in depth material for IMA standards of ethics and a broad concept of professional ethics for accountants.
5
Member's Profile
Tom is always a wonderful instructor who outlines the material in a comprehensive way and makes it relatable.
5
Anonymous Author
Amazing course and providing great insight into ethical standards that all professionals should abide by.
4
Member's Profile
Great examples to really cement the understanding and importance of Ethics in the corporate environment.
5
Member's Profile
Good course and refresher on ethics. Enjoyed the real life examples to give color to the subject matter.
5
Anonymous Author
This was good because it covered FCPA and SOX and a wide range of topics. Overall, this was substantive.
5
Anonymous Author
Good ethics update course. Provides an overview of key areas for CPAs both in practice and in industry.
5
Anonymous Author
Amazing course by Tom, Ethics is a key differentiator between a good accountant and a bad accountant.
4
Member's Profile
I appreciate that this course gave several real-world examples of what the instructor was teaching.
5
Anonymous Author
It was as expected - used lots of real life examples to teach the reasoning behind the requirements.
5
Anonymous Author
This course provided a good high level over view of ethical requirements and various fraud cases.
5
Anonymous Author
Good course. The course contained so many scenarios to demonstrate ethical situations and dilemma
5
Anonymous Author
Good course, concise and too the point. Would recommend if you need additional ethics credits.
5
Anonymous Author
The course was easy to follow. It covered a great deal of material, but summarized it well.
5
Anonymous Author
This course was as expected. It covered the topic, and helped me meet my CPE requirements.
5
Anonymous Author
Good course. I thought the instructor did a good job with making the course engaging..
5
Anonymous Author
Great job at covering the basics of ethics, considerations, the FCPA and Sarbanes Oxley
4
Member's Profile
This course was very helpful. I learned some neat tricks and tips for inputting data.
5
Anonymous Author
Some good need-to-know ethics for the workplace. Laws and ethics, and laws vs ethics.
5
Member's Profile
Great presentation of materials, accompanied with interesting examples and stories.
5
Anonymous Author
Tom is a very good instructor and clear communicator. Thanks for a great course.
5
Anonymous Author
Great refresher course on ethics, the fraud triangle, internal controls, and FCPA.
4
Anonymous Author
This course provides a basic understanding of professional ethics for accountants.
4
Member's Profile
Nice course on Ethics and code of conduct. All members should take this course.
5
Anonymous Author
It was an interesting course with good examples and a knowledgeable instructor.
5
Anonymous Author
Enjoyed the delivery of the presenter. The presentation was well organized.
4
Member's Profile
Long, but provided good information with a lot of great additional sources.
5
Member's Profile
This course was a thorough discussion on ethical behavior for accountants.
5
Member's Profile
I liked the real world examples to help relate to my personal experiences
5
Anonymous Author
i did enjoy taking this test.. a lot actually looking forward for more.
4
Anonymous Author
Great refresher on importance of documented code of conduct and ethics.
5
Anonymous Author
Excellent course. This was a helpful refresher of this subject area.
5
Anonymous Author
Easy to follow and examples justify the topics covered in the course.
4
Member's Profile
Very useful material and working paper for understanding the subject.
5
Anonymous Author
Well organized and presented. Well supported and relatable examples.
4
Anonymous Author
The lecture is ok, but the way the exam was structured is so tricky.
5
Anonymous Author
Great class to give overview of the essentials of business ethics.
5
Member's Profile
Provided great examples of past ethical dilemmas and the outcomes.
3
Member's Profile
decent review course for an annual cpe credit - would recommend
3
Anonymous Author
Straight forward information on this growing topic of interest.
4
Member's Profile
Thank you for providing a wide variety of real-world examples!
5
Member's Profile
very useful infomation and a good reminder of responsibilities
5
Anonymous Author
Challenging and an excellent course, it expanded my knowledge.
5
Anonymous Author
Covered what was expected and included many real life examples
4
Anonymous Author
Great overall outline of this topic with real world examples.
4
Anonymous Author
A great overview of ethics if you are looking to refresh.
5
Anonymous Author
lengthy material, could be better........................
4
Anonymous Author
Good review. Course was well structured and presented.
5
Member's Profile
Good reminders. Good background on FCPA and Sarbox.
5
Anonymous Author
Challenging course on ethical practices. Enjoyed it.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  18:07Introduction to Ethical Standards for Certified Managerial Accountants (CMA’s)
  13:35Ethical Dilemmas
  13:27Ethical Dilemmas Continued
  12:41Resolving Ethical Dilemmas
  11:39The Fraud Triangle
  13:18The Fraud Triangle Continued
  10:23Ethical Versus Legal Behavior
  14:59The Foreign Corrupt Practices Act, The Sarbanes-Oxley Act, and Ethics
  16:58The Foreign Corrupt Practices Act, The Sarbanes-Oxley Act, and Ethics Continued
  15:03Ethical Considerations for Organizations
  8:58Ethical Considerations for Organizations Continued & Wrap Up
CONTINUOUS PLAY
  2:29:07Professional Ethics for Accountants
SUPPORTING MATERIALS
  PDFSlides: Professional Ethics for Accountants
  PDFIMA Statement of Ethical Professional Practice
  PDFProfessional Ethics for Accountants Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM