The Enron scandal was one of the largest corporate disasters in the 20th century‚ with millions affected and billions of dollars found to have been tied up in practices that were subsequently deemed by some analysts to have been foolhardy. Until Worldcom went bankrupt in 2003‚ the bankruptcy of Enron was the largest bankruptcy in US corporate history. As the Enron scandal gathered pace‚ Arthur Andersen bosses are said to have instructed employees to shred documents ahead of an expected investigation
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From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
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taken by WorldCom managers not detected earlier? What process or systems should be put into place to prevent or quickly detect the types of actions that occurred in WorldCom. It may be helpful to list the multiple governance failures Web Images Videos Maps News More Bing 1669Jiayao 120‚000 resultsAny time Why Were The Actions Taken By Worldcom Managers Not Detected ... www.papercamp.com/group/why-were-the-actions-taken-by-worldcom... Free
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as aware of environmental conditions facing their organization in order to predict future conditions. Established in 1988‚ WorldCom Public Relations Group was formed to allow the most independent public relations firms to serve national‚ international and multi-national clients while retaining the flexibility and client-service focus inherited in independent agencies (WorldCom Public Relations Group‚ 2010). In respect to that‚ this paper will examine this WorldCom’s management planning function‚ how
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Behind Closed Doors at WorldCom: 2001 Zekany‚ Kay E;Braun‚ Lucas W;Warder‚ Zachary T Issues in Accounting Education; Feb 2004; 19‚ 1; ProQuest Central pg. 101 Behind Closed Doors at WorldCom: 2001 Kay E. Zekany‚ Lucas W. Braun‚ and Zachary T. Warder ABSTRACT: WorldCom was a large telecom company that enjoyed an almost meteoric rise during the 1990s but ran into trouble in the early 2000s. 2001 was particularly difficult. This case gives future generations of accountants the opportunity
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WorldCom and Accounting Ethics ACC557 Assignment #1 April 29‚ 2013 Dr. Mohammad Rahman Deanna Williams Current business and regulatory environments are more conducive to ethical behavior due to many new laws that have been put into effect in recent years. For many companies‚ especially small ones‚ the checks and balances are not put into place as well as they should be. With new laws in effect and more and more accountants paying attention to their clients’ accounts‚ ethical behavior is on
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conclusion‚ Enron‚ WorldCom and other financial scandals have brought more awareness to investors... Premium The Unethical Business In The Telecommunication Industry The overcharging behaviour of AT&T Recommendations for telecommunication industry Conclusion Findings WorldCom WorldCom‚ The Americas second-biggest long... Premium Miss of technology and business markets/trends. The conclusion of the need for preventative measures has been surmised based on observations of WorldComs turn of events
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AbdulFattah AbdulGaniyy Department of Accountancy‚ The Federal Polytechnic‚ Kaura Namoda‚ Nigeria. * E-mail of the corresponding author:abuaishah1425@yahoo.com Abstract This paper discusses the history of audit and its development particularly Enron and Worldcom scandals as some of the audit failures that increased the challenges of auditing firms to remain unbiased and independent of their clients. Secondary data was used to review the existing literature on the subject. Descriptive method was used to present
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ACCT7102 Case Study- WorldCom 1.0 Background WorldCom as one of the world’s largest telecommunications companies‚ filed for bankruptcy on 2012 after numerous accounting irregularities were disclosed. It is essential for us to analyze the several underlying issues from WorldCom case to avoid its repetition. The origin of WorldCom can be traced to a LDDS provider in 1983 and it became officially known as WorldCom in 1995. The company maintained a rapid growth through a series of acquisitions using
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WORLDCOM’s WHISTLEBLOWER Introduction: What began as a routine internal audit‚ transformed into the largest accounting manipulation of all time. Worldcom‚ a leading telecommunications company built from over 70 acquisitions‚ found itself ranked at the top of its class for illegal and creative accounting practices. Worldcom leaders successfully managed to erode the company market value from $180 billion in 1999 to approximately $350 million today. In June of 2002‚ Cynthia Cooper‚ Vice President
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