Case Solution

Accounting Fraud at WorldCom Case Solution


Case Solution

The main gamers in World Com's accounting fraud incorporated CFO Scott Sullivan, the overall Accounting and Internal Audit departments, exterior auditor Arthur Andersen, and also the board of company directors. The case provides sufficient detail to permit a complete discussion from the demands contributing professionals and managers to prepare the books, the boundary between earnings removing or management and fraudulent confirming, the function for internal control systems and internal audit to avoid or quickly identify accounting fraud, the anticipation about governance processes carried out by exterior auditors and also the board of company directors, and also the pressure and effects when middle managers follow orders they know are wrong. Written in the criminal record, the case consists of numerous quotes from a person active in the World Com fraud which were reported through the Investigative Committee and Wall Street Journal articles about some of the people swept up within the situation.

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