Professional Ethics: An FTX Story (2.0hrs verifiable ethics CPD)

The massive fraud that is FTX as a case study in a failure of ethical decision making

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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.

The learning objectives of this course include:

  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 the fraud and poor ethical decision-making
  7. Define Blockchain and cryptocurrency
  8. List one reason why blockchain technology was created

2.0 hrs of verifiable Ethics CPD (Certificate will be provided upon course completion)


Additional information

  1. Program pre-requisites: There are no prerequisites for this course
  2. Advance preparation: None
  3. Delivery method: E-learning
  4. CPD/CPE credits: Participants will earn 2.0 professional development credits (hours)
  5. Verifiable Ethics course: 2.0hrs.

Course Curriculum


  Professional Ethics: An FTX Story
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Your Instructor


Garth Sheriff
Garth Sheriff

Garth Sheriff is the founder of Sheriff Consulting, a firm specializing in the design and delivery of professional and leadership skill courses for accounting and finance professionals. Garth has worked as an assurance professional and learning provider for over 20 years. He has prepared and trained CPAs for critical changes to the profession. He earned a Master of Accounting and a Bachelor of Arts (Honours - Accounting) from the University of Waterloo. He is a member of the Chartered Professional Accountants of Ontario (CPAO), American Institute of Certified Public Accountants (AICPA) and the Institute of Internal Auditors (IIA). Garth has also acted in various stage and film productions. He is a graduate in improvisation from The Second City and a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists.


Frequently Asked Questions


When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
How does lifetime access sound? After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
What if I am unhappy with the course?
We would never want you to be unhappy! If you are unsatisfied with your purchase, contact us in the first 30 days and we will give you a full refund.
Is Provincial (Canada) HST or GST included in the price?
Yes

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