Course ID: MMMRTFRD

ETHICS: How and Why I Cooked the Books To Save My Company

Relying on your CFO/CPA can send you to prison


LEARNING OBJECTIVES
  • After attending this class, you will understand how Michael McGrath, a successful mortgage company CEO, unable to face the reality of his failing business. committed fraud, He pleaded guilty to a $140 Million bank fraud and was sentenced to 14 years in prison.

MAJOR TOPICS

Michael McGrath owned a successful mortgage company that packaged mortgages for sale to investors. As the subprime mortgage and financial crisis approached, he cooked the books to save his company. He was sentenced to 14 years in prison. In this session Michael will discuss:

  • How he circumvented audit procedures to fool CPA firm
  • How poor internal controls encouraged fraudulent behavior
  • How he exploited his auditors understanding of the business and their independence
  • How he manipulated his accounting software
  • How he rationalized his criminal behavior
  • What it’s like to be the target of FBI and DOJ
  • Risk of Mortgage Backed Securities and Stock Trading

DESIGNED FOR
CPAs in public practice, business and industry, managing partners, General Counsel, compliance officers, chief learning officers, risk managers, and regulators

FIELD OF STUDY
Behavioral Ethics

PREREQUISITES
None

COURSE PRODUCER
The Pros & The Cons

CPE CREDITS
4.0

LEVEL
Intermediate

This course is available for your group as:

Group Live
 

Let's Roll!

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