UVU The Ethical Violations of The AICPA Code of Conduct Question

Having read the assigned articles, choose one to respond to the following questions in detail.

Questions:

1.  Citing directly to the AICPA Code of Conduct and using the rule numbers, etc., as appropriate, identify and describe the ethics violations detailed in the article.  (Assume all the parties involved were bound by the Code of Conduct.)

2.  What effects did the violations and choices made have on the public, investors and third-parties?

3.  Put yourself in the shoes of a compliance officer uninvolved in the fraud or other schemes and you are responsible for making changes to the organizations implicated.  What would you do differently to uphold and reinforce the Code of Conduct and otherwise protect the public?

Read:

AICPA Code of Conduct, Section 2.100 of the Code of Conduct (pp. 153-163)

Article 1: Luckins Coffee Fraud Case (hyperlink)

https://www.sec.gov/news/press-release/2020-319 (Links to an external site.)

Article can also be found here (pdf)

SEC.gov _ Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges.pdf

Article 2: Wells Fargo Fraud Case (hyperlink)

https://www.forbes.com/sites/jackkelly/2020/02/24/wells-fargo-forced-to-pay-3-billion-for-the-banks-fake-account-scandal/?sh=125b422042d2 (Links to an external site.)

Article can also be found here (pdf)

Wells Fargo Forced To Pay $3 Billion For The Bank’s Fake Account Scandal.pdf

Article 3: Nikola Corp Securities Fraud (hyperlink)

https://www.justice.gov/usao-sdny/pr/former-nikola-corporation-ceo-trevor-milton-charged-securities-fraud-scheme (Links to an external site.)

Article can also be found here (pdf)

Former Nikola Corporation CEO Trevor Milton Charged In Securities Fraud Scheme _ USAO-SDNY _ Department of Justice.pdf