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Accounting Fraud at WorldCom Case

The Worldcom case gives us an opportunity to analyze the factors that led senior executives to launch and sustain an accounting fraud. The case reveals that no single factor led to the onset and sustainability of the accounting fraud. The case is a remarkable and sobering story that so many safeguards and controls failed simultaneously, leading to a multi-billion fraud that went undetected for years. The case provides an opportunity to discuss various controls organizations should have in place to deter, detect, and prevent illegal activity from occurring. Please summarize case and hit most of these questions in your paper. 1. What are the pressures that lead executives and managers to "cook the books?' 2. Why were 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? 3. Were the external auditors and board of directors blameworthy in this case? Why or why not? 4. Betty Vinson: victim or villain? Should criminal fraud charges have been brought against her? How should employees react when ordered by their employer to do something they do not believe in or feel uncomfortable doing?
The Worldcom case gives us an opportunity to analyze the factors that led senior executives to launch and sustain an accounting fraud. The case reveals that no single factor led to the onset and sustainability of the accounting fraud.
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Assignment ID
35902
Discipline
Type
CREATED ON
July 24, 2016
COMPLETED ON
July 25, 2016
Price
$30
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