CHECK THESE SAMPLES OF Accounting Fraud at Worldcom
They included:
Stock market manipulation
Stock market manipulation fraud was realized after an investigation by the Australian Securities and investment commission (ASIC)....
How the accounting profession and accounting bodies addressed these concerns
As a result of these frauds, the accounting bodies decided from thereon to adopt the international accounting standards by the year 2005.... As part of the reforms, a provision was made in section 228 stating that the accounting standards were to be interpreted by reference of object or purpose of the standards....
6 Pages
(1500 words)
Assignment
Some of the financial scandals that made headlines in the recent past include that of Enron and worldcom.... … FINANCIAL SCANDALThe entire world has been hit by financial fraud.... The situation has been worsened during the last decade as many businesses were affected by financial fraud scandals (Bradsher, 2004).... Many organizations have collapsed on the account FINANCIAL SCANDALThe entire world has been hit by financial fraud....
8 Pages
(2000 words)
Essay
The increased deviations from the ethical corporate behavior at worldcom Company have been encouraged by the failure of the board of directors to identify and address effectively the abuses....
Poor integration and Entrenched Culture
Poor integration particularly of the acquired companies is also one of the contributing factors to the failure of corporate governance at worldcom Company....
Corporate Governance failures-Case study worldcom
worldcom is the second largest telecommunication company in the world....
6 Pages
(1500 words)
Case Study
The news of in recent years particularly portrayed a distressing story of business ethics in companies such as Anderson, Enron, worldcom, Merrill Lynch, Global Crossing, Tyco International, Qwest and Boeing among others (Paul & Elder 2006).... Corporate failures, Falling stock markets, abuses of corporate power, dubious accounting practices, scandalous investigations point out that the whole economic system on which investment profits have relied is demonstrating warnings of stress which have weakened the public's confidence (Fukuyama 2000)....
10 Pages
(2500 words)
Essay
Some of the public companies which have been in the news for lack of effective corporate governance and ethics include worldcom, Enron, Qwest Communications, Merrill Lynch, Computer Associates, Global Crossing, Adelphia Communications and Boeing among others (Adams & Balfour 2011, p.... Corporate collapses, declining stock markets, corporate power abuses, doubtful accounting practices, criminal investigations point out that the whole economic system on which investment returns have relied upon is demonstrating signs of tension that have weakened investor's confidence (Ketz 2006)....
10 Pages
(2500 words)
Essay
These collapses have mainly been attributed to accounting fraud, which may have been known by auditors or not known.... These collapses have mainly been attributed to accounting fraud, which may have been known by auditors or not known.... In this paper, I review the Benford's Law and show how it can be applied to detect accounting fraud using the payables data.... Besides, people commit accounting fraud due to various reasons that shall as well be discussed in the last section of the paper followed by a conclusion....
7 Pages
(1750 words)
Coursework