Preparation Watch the two videos posted below: https://www.youtube.com/watch?v=3


Preparation
Watch the two videos posted below:


You can view the transcript for “Financial Fraud Public Service Announcement” (opens in new window) (Links to an external site.) or the text alternative for “Financial Fraud Public Service Announcement” (opens in new window) (Links to an external site.).
You can view the transcript for “Bank Official Discusses Laundering Money” (opens in new window) (Links to an external site.) or text alternative for “Bank Official Discusses Laundering Money” (opens in new window) (Links to an external site.).
After watching the videos, complete the following steps:
Follow the link to the AICPA’s Web site, and read Section 53 (Article II): The Public Interest: AICPA Code of Professional Responsibility Section 53 (Links to an external site.)
Follow the link and read the Wikipedia article: “The Financial Crisis of of 2007–2008 (Links to an external site.).”
Consider what you have read in your course materials, watched in the videos, learned from the Wikipedia article and from what the AICPA Web site says about ethics and the duty of the CPA in regard to the public interest. Based on this information, respond and discuss to the following statement: “CPAs should have been able to prevent the global financial crisis of 2007–2008.” Do you agree or disagree? Support your position.


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