Mrs. Chenfant English 12 25 October 2011 1919 World Series: Black Sox Scandal Impact or decision would be the most contemplated ideas formed upon the events that happened during the 1919 World Series. What happened was better known as the Black Sox Scandal making the impossible a reality even with the stakes‚ buried in the truth‚ everyone involved concluded to risk. One of the darkest most shadowed events that ever had a negative effect on the sport for the entire history of baseball simply
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The 1919 World Series is the most notorious scandal in baseball history. Eight players from the Chicago White Sox were accused of throwing the series against the Cincinnati Reds. Details of the scandal and the extent to which each man was involved have always been unclear. It was‚ however‚ front-page news across the country and‚ despite being acquitted of criminal charges‚ the players were banned from professional baseball for life. The players on Charles Comiskey’s 1919 Chicago White Sox team were
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Throughout the course of American history‚ scandals have shaped the way the people view the government. Unforeseen consequences from scandals often present themselves years later‚ which prompts the question: which American political scandals have had the biggest impact on American history? A scandal‚ as defined by Cambridge Dictionary‚ is an action or series of actions that are considered wrong or immoral‚ often leading to public anger. There have been countless scandals in American history‚ many kept private
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the actions taken by WorldCom managers not detected earlier? What processes or systems should be in place to prevent or detect quickly the types of actions that occurred in WorldCom? The first reason is that both internal audit and external audit of WorldCom were not performing their role as intended. Generally‚ internal audit mainly focus on the reliability of financial reporting and the effectiveness of operations‚ and reports directly to the Board of Directors. In WorldCom‚ however‚ internal audit
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[1] What business was WorldCom in? WorldCom was in the business of telecommunications. Where was WorldCom located? WorldCom was located in Clinton‚ Mississippi. Who was the CEO? The CEO was Bernie Ebbers. Who was the CFO? The CFO was Scott Sullivan. What are the names of the two members of the internal audit staff who worked with Cynthia on their secret investigation? Gene Morse and Glyn Smith What made the internal auditors think that possibly there was a need to investigate WorldCom’s
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The WorldCom Fraud © 2003‚ 2005 by the AICPA This presentation is intended for use in higher education for instructional purposes only‚ and is not for application in practice. Permission is granted to classroom instructors to photocopy this document for classroom teaching purposes only. All other rights are reserved. Copyright © 2003‚ 2005 by the American Institute of Certified Public Accountants‚ Inc.‚ New York‚ New York. WorldCom’s Background • Awoke the sleeping giant by leading the telecom
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a- i) According to SCON 6 article 25‚ assets are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. Assets has three characteristics: it embodies a probable future benefit that involves a capacity or in combination with other assets‚ to contribute directly or indirectly to future net cash inflows‚ a particular entity can obtain the benefit and control others’ access to it and the transaction or other event giving rise to the
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The WorldCom scandal was actually brought to light by the internal auditor‚ Cynthia Cooper. Cooper and her team‚ Gene Morse and Glyn Smith uncovered the fact that line costs were being transferred to capital accounts. Cooper was originally tipped off to the fact that something was amiss when the head of WorldCom’s wireless business paid her a visit‚ upset that he was loosing $400 million that had been set aside to make up for shortfalls if customers didn’t pay their bills. Scott Sullivan‚ CFO of
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M1. Case Study Assignment: Fraud at WorldCom 1. Who were the major characters in WorldCom? There are a couple of major characters that played their roles in the downfall of WorldCom. Mr. Bernard J. (Bernie) Ebbers‚ one of the founders of the original small long-distance carrier‚ was asked to take charge of the company during its early struggles. It was under his tenure that WorldCom began its expanding pursuits and aggressive acquisitions. Although Mr. Ebbers was he head of the company‚ their CFO
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Casey Noble 15 October 2008 Sabo SWOT Analysis WorldCom WorldCom‚ formerly known as the second largest long distance phone service‚ had taken its fall and officially took its final name on April 14‚ 2003. This Company’s mission statement was to “Create a competitive advantage for WorldCom and contribute significantly to WorldCom’s business success by promoting business practices that provide greater opportunity for a diverse supplier base." Throughout WorldCom’s lively years‚ it had great
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