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Alexis Smith, CFA, is a sell side investment analyst. While at a software industry conference, Alexis hears rumors that Green Run Software may have falsified

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Alexis Smith, CFA, is a sell side investment analyst. While at a software industry conference, Alexis hears rumors that Green Run Software may have falsified its financial results. When she returns to her office, Alexis conducts a thorough analysis of Green Run. Based on her research, including discussions with some of Green Run's customers, Alexis is convinced that Green Run's reported 50% increase in net income during recent quarters is completely fictitious. So far, however, Alexis is the only analyst suspicious about Green Run's reported earnings. According to the CFA Institute Code of Ethics and Standards of Professional Conduct, the least appropriate action for Alexis is to report her suspicions to Green Run's management recommend her clients sell their Green Run shares immediately do nothing, until other analysts support her analysis

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