You are to analyze, assess, and fully answer the following: 1. The Madoff case involves the failure of at least three Generally Accepted Accounting Principles (GAAP), namely a) Full Disclosure Principle, b) Revenue Recognition Principle, and c) Conservatism. As the business ethicist diagnosing these failures, please explain how Madoff failed the ethical bar of each principle. There might also be other principle violations at play and you should not limit your response just to the three principles so named, so long as you also address each of the three above. 2. Ethics lapses almost always have unintended consequences. In the Madoff case, two groups in particular were dramatically impacted Madoffs clients and Madoffs family. Many ethicists believe that in such cases, morality is the guidepost for the determination of ethical behavior. What are 3 unintended consequences of the Madoff scandal on his a) clients and b) family? Please provide 3 consequences for each group for a total of 6 altogether.