Instructions to complete this course:

1. Complete each module in sequence. Each module will require watching and/or completing a related activity. The modules must be completed in order to complete the course.
2. Once the modules are completed, then you will have access to the qualified assessment section (multiple-choice questions).
3. If you are successful on the qualified assessment, you will then move onto the course evaluation.
4. Complete the course evaluation form. You will have then have access to a downloadable course completion certificate for your records.

Learning objectives:

The fraud, drama, and massive failure of FTX is a story of unethical leadership, inadequate governance, and organizational culture with low psychological safety. As with many frauds, the primary media focus is on the sensational details. In this case, the spectacular rise and downfall of the wunderkind entrepreneur Sam Bankman-Fried combined with the industry in which the fraud occurred: Blockchain and cryptocurrency.

But hidden beneath the surface of the enigmatic leader and the FOMO (fear of missing out) inherent in cryptocurrency are critical lessons in ethical decision-making, governance, and organizational culture.

In this on-demand, we will explore the FTX fraud and critical stakeholders using IESBA’s (International Ethics Standards Board for Accountants) five fundamental principles of ethics as the framework for our investigation:

• Integrity
• Objectivity
• Professional competence and due care
• Confidentiality
• Professional Behaviour

We will examine how a lack of psychological safety and a toxic organizational culture compromised the ethical decision-making process of numerous stakeholders.

We also examine the underlying technology at the heart of cryptocurrency, Blockchain and why our professional judgment is most vulnerable with transformational technologies.

Knowledge, skills and abilities

After completion of this course, the professional competence that can be achieved by participants:

1. Define IESBA’s five fundamental principles of ethics
2. Summarize the key events and dates of the FTX fraud
3. Identify the key stakeholders of FTX
4. Illustrate what went wrong with FTX 
5. Identify the factors as to why the fraud at FTX happened 
6. Explain how low psychological safety and a toxic organizational culture contributed to fraud and poor ethical decision-making.
7. Define Blockchain and cryptocurrency
8. List one reason why blockchain technology was created
   

For any questions that may arise in the completion of the program, please email [email protected]. You will receive a reply within 24 hours of receipt of your inquiry.