The downfall of Elizabeth Holmes, founder of Theranos, has been told in many formats (books, podcasts, television). However, the story of Theranos, the company, the employees and other stakeholders have not been examined in-depth, especially from the perspective of ethical decision-making and organizational culture.
In this on-demand course, we will explore the Theranos fraud and key stakeholders using IESBA’s (International Ethics Standards Board for Accountants) five fundamental principles of ethics as the framework for our investigation:
- Professional competence and due care
- Professional Behaviour
We will also examine how a lack of psychological safety and a toxic organizational culture compromised the ethical decision-making process of numerous stakeholders.
The learning objectives of this course include:
- Defining IESBA’s five fundamental principles of ethics
- Summarizing the key events and dates of the Theranos fraud
- Identifying the key stakeholders of Theranos
- Illustrating what when wrong with Theranos using each of the five fundamental principles of ethics
- Explaining how low psychological safety and a toxic organizational culture contributed to the fraud and poor ethical decision making
2.0 hrs of verifiable Ethics CPD (Certificate will be provided upon course completion)
- Program pre-requisites: There are no prerequisites for this course
- Advance preparation: None
- Delivery method: E-learning
- CPD/CPE credits: Participants will earn 2.0 professional development credits (hours)
- Verifiable Ethics course: 2.0hrs.
PreviewCourse instructions and learning objectives
StartModule 1: Theranos - Who, What, When, Why and How (27:40)
StartModule 2: Designing an Unethical Organization (15:34)
StartModule 3: Psychological Safety and Theranos (22:30)
StartModule 4: Ethical Leadership (16:35)
StartModule 5: Lessons Learned and Action Steps (6:16)
StartQualified assessment of learning objectives
Garth Sheriff, CPA, CA, CPA (Illinois), CIA, MAcc, is the founder of Sheriff Consulting (sheriffconsulting.com). We specialize in the design and delivery of assurance, accounting, and soft skill professional development courses. Sheriff Consulting strives to create a learning environment that is engaging, interactive, and effective.
Our courses are designed using the latest in communication research and current technical developments that affect our profession. This includes:
- Helping professionals navigate the most significant changes to the accounting and assurance standards in the last 40 years.
- Using current research to improve business communication skills such as working with diverse multigenerational teams.
- Understanding how transformative technology such as Blockchain and Artificial Intelligence will impact our profession.
Garth has worked as an assurance professional and learning provider for over 15 years.He has prepared and trained CPAs for key changes to the profession, including internal control documentation (SOX), Canadian Auditing Standards (CAS) and Canadian Standards on Review Engagements 2400 (CSRE 2400).
He earned a Master of Accounting and a Bachelor of Arts (Honours - Accounting) from the University of Waterloo, Canada. 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