Professional Ethics: A Wirecard Story
Overview:
This engaging and comprehensive course will delve into the many layers of the Wirecard fraud, one of the most significant financial statement frauds in recent history, examining how ethical breaches, organizational culture, psychological safety, and leadership failures contributed to the downfall of a global company.
You will thoroughly understand the IESBA's five pillars of ethics—integrity, objectivity, professional competence, due care, confidentiality, and professional behavior—and how these principles were compromised throughout the Wirecard saga. The course will illustrate the importance of these pillars in maintaining the trust and credibility essential to the accounting profession.
In addition to theoretical insights, the course will explore the role of organizational culture in fostering ethical behavior. You will analyze how Wirecard's internal culture allowed unethical practices to flourish and discuss strategies for cultivating a culture of integrity and transparency within your organization. Emphasis will be placed on creating psychologically safe environments where employees feel empowered to speak up against unethical practices without fear of retaliation.
Leadership is another critical theme of this course. You will examine the leadership failures at Wirecard and learn about the characteristics of ethical leadership that promote accountability and ethical decision-making.
This engaging and informative course promises to provide invaluable insights to help you enhance your ethical awareness, improve organizational culture, and lead with integrity.
Course Content:
In this course, you will gain knowledge about the following topics:
- introduction – IESBA pillars of ethics
- overview: Wirecard – key players and timelines
- Wirecard – What went wrong
- Wirecard and organizational culture
- Wirecard and psychological safety
- Wirecard and unethical leadership
- conclusion and SMART goals
Learning Objectives:
Upon completing this course, you should be able to:
- identify the key events and figures involved in the Wirecard fraud.
- explain the IESBA’s 5 pillars of ethics and how they relate to the Wirecard case.
- demonstrate the application of ethical principles in real-world accounting scenarios.
- analyze the organizational culture at Wirecard and its impact on ethical behavior.
- assess the leadership failures at Wirecard and their contribution to the fraud.
- develop strategies to foster a culture of psychological safety within an organization.
- describe the importance of ethical leadership in promoting accountability and integrity.
Who Will Benefit:
CPAs and professionals looking to understand what can go wrong if our fundamental principles of ethics are threatened by low psychological safety and a toxic organizational culture.