question archive 1) The role of Joseph Ripp in the accounting fraud at AOL is one of whether a CFO who seemingly goes along with an accounting fraud and then is responsible for uncovering it should be viewed as a hero or villain

1) The role of Joseph Ripp in the accounting fraud at AOL is one of whether a CFO who seemingly goes along with an accounting fraud and then is responsible for uncovering it should be viewed as a hero or villain

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1) The role of Joseph Ripp in the accounting fraud at AOL is one of whether a CFO who seemingly goes along with an accounting fraud and then is responsible for uncovering it should be viewed as a hero or villain. How should we view Joseph Ripp in this case: a participant in the fraud or an innocent bystander? A hero or a villain? Explain.

2. Two of the officers—J. Michael Kelly, the former CFO of AOL, and Mark Wovsaniker, former head of accounting policy—consented to the charges of the SEC that they misled the external auditors about the fraudulent transactions. What were the ethical responsibilities of Kelly and Wovsaniker in this matter in general, and specifically with respect to their relationship with the external auditors? Did they violate those standards?

3. Do you think the decision to reverse the charges against Wovsaniker because he did not have ultimate authority over the misleading financial statements was the "right" decision from an ethical perspective? Include in your discussion how that decision accords with the rules of conduct in the AICPA Code.

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