WorldCon: A Case Study of WorldCom ACCT 424B Prof. R. Hayes May 12, 2011 WorldCom is a telecommunications company that was once worth billions but is now merged with Verizon after bankruptcy due to fraudulent activities. The question is what caused one of the largest US corporations began a spiral into financial ruin. WorldCom according to John Sidgmore, a former top executive of WorldCom, stated that WorldCom generated annual revenues of over $30 billion a year, has more than 60,000 employees
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business case that would reside in each court. Discuss the rationale you employed in making your decision. * Propose three distinct types of decisions that are issued by the U.S. Supreme Court. Discuss the implications of these decisions to business. LEG 565 Week 2 Discussion 1 "Types of Resolution" Please respond to the following: * Differentiate among arbitration and other non-judicial methods of alternative dispute resolution. For each method, offer one type of business case that might
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Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu WorldCom’s Bankruptcy Crisis INTRODUCTION The story of WorldCom began in 1983 when businessmen Murray Waldron and William Rector sketched out a plan to create a long-distance telephone service provider on a napkin in a coffee shop in Hattiesburg, Miss. Their new company, Long Distance Discount Service (LDDS), began operating as a long distance reseller in 1984. Early investor Bernard Ebbers was named CEO
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Case Study: Strategic IT Transformation at Accenture An introduction to Accenture • Accenture today is a multinational management consulting, technology services, and outsourcing company. • Headquarters in Dublin, Ireland • World’s Largest IT Consulting firm by revenue • In 2014, reported net revenue of 30 billion • 305,000 employees world wide • Servicing clients in more than 200 cities and 56 countries History of Accenture • Started out as Andersen Consulting a division of the accounting firm
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accounting & auditing function? Why or why not? In our opinion, the engagement leader of an audit should not have the authority to overrule the opinions and recommendations of the accounting and auditing function. To support our judgment, we refer the case to Section 550 Quality Assurance and Practice Review of the MIA By-Laws and ISA 220 Quality Control for an Audit of Financial Statement. Section 550.1 The By-Laws states that every member in public practice has to ensure that the firm adopts and
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Leslie- Employee 1 4. Kylie- Employee 2 (a junior auditor working with Cynthia Cooper) 5. Donna- Arthur Andersen 6. Brynner- David Myers (Controller) 7. Patrick- Bernard Ebbers (ex-CEO) 8. Ivy- The Government (SEC) 9. Ruby- Employee 3 Scene 1: INTERROGATION Setting: Interrogation room Individual frames on each interviewee (Scott, Cynthia, The Employees, Andersen, David Myers, Bernard Ebbers) Frame 1 (Interrogation of David Myers) Ivy: What was your involvement in the WorldCom
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page. There are 3 parts to this assignment. 1. (12 pts) Case 1.1 Enron Corporation (the high profile disaster that changed the face of auditing!) Watch the video Bigger Than Enron. Use this address to access the site outside of WTClass: http://vimeo.com/61053538 Read ENRON Ten Years Later: Lessons to Remember, CPA Journal http://viewer.zmags.com/publication/94edbcee#/94edbcee/18 a. After reading the case, watching the video, and reading the CPA Journal article, what
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the years which caused staffs and the board of directors satisfied with management. Later on throughout the years, it was confirmed that management was securing two sets of books, they were holding on to billions of dollars worth of dept. Arthur Andersen, who is a part of a major accounting firm
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the years which caused staffs and the board of directors satisfied with management. Later on throughout the years, it was confirmed that management was securing two sets of books, they were holding on to billions of dollars worth of dept. Arthur Andersen, who is a part of a major accounting firm
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blankets in the summer and barbecue grills in late autumn. Eventually, earnings woes and Dunlap's bluster prompted his ouster by an aroused board of directors in June 1998. That was followed shortly by the replacement of accounting firm Arthur Andersen and a series of investigations and shareholders lawsuits, most of which are still pending. Sunbeam joins an ignominious cluster of companies — Rite Aid, c u e International (now part of Cendant Corp.), Livent, Oxford Health Plans, Phar-Mor, Miniscribe
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