We have begun the discussion of professional ethics, as it relates to the auditing and accounting profession. Public trust is at the center of these standards. Individuals in auditing, corporate or governmental accounting find themselves in significant roles involving public trust. One such individual, Michael Nguyen, a resident of Irvine, California, was in the news earlier this year. Conduct your own research on Mr. Nguyen and answer the following questions in your own words:
1. Anything unique about this series of events?
2. What is your personal reaction to hearing about this type of behavior from a person trusted with the financial affairs of his community?