Podcast - Fraud and Shifting Ethical Norms

Fraud is an omnipresent threat often caused by elaborate schemes and corporate insiders or disenchanted employees who exploit weak points. But why do fraudsters justify or rationalize their crimes and how can firms stop playing catch up with their schemes? Chris Mines is joined by Christopher Knight, a seasoned financial crime expert. They discuss the main types of rationalization, why fraudsters abandon ethical rules, and the necessity for stronger industry enforcement.

Some of the topics covered in this course include:

• Assessing codes of conduct and principles for ethical judgments • Interviewing alleged fraudsters after determining the how but searching for the why • The main reasons why fraudsters rationalize their actions • The duties of the PCAOB plus recent enforcement decisions • Examining if auditing firms can still self-regulate • The future of auditing standards and more!

Field of Study: Behavioral Ethics