It's only because KB has become so successful that lots of FMs think it's ok. Lying about qualifications isn't acceptable. Think - doctors nurses etc.
There's a world of difference between telling a fib about a qualification in order to get a job with an ad agency and lying about a medical qualification to get a job as a doctor or nurse. The worst that could happen with S&S would be that you'd be found out and either be disciplined or sacked, but if you lied about your qualifications to practice as a medical professional, someone could die as a result of your lies.