me mateys‚ I be Benjamin Cooper. I’m the captain aboard thee Blue Dragon‚ she be a mighty vessel for sailing the seven seas! As you may have noticed‚ I seem to be missing me right leg. Listen here lads and lassies‚ I be telling you thee tale of the stormy night over the Northern Atlantic‚ were I was ambushed by the mighty Barry. But‚ I must tell you me own backstory before we get to Barry! I was born in London‚ England on December 7‚ 1808. My father‚ Edward Cooper‚ was in the Navy during 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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AVOIDING INVESTMENTS IN FRAUDULENT COMPANIES: THE WORLDCOM FRAUD Introduction The purpose of this report is to investigate and discuss the accounting fraud that occurred at WorldCom in order to recommend improved strategies to Berkshire Hathaway’s management for avoiding investments in companies with fraudulent financials. Accounting fraud is a crime committed by high level employees at an organization to manipulate the organization’s financial statements and intentionally disguise company
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Corporate Governance WorldCom Scam Introduction MCI WorldCom was one of the largest telecommunications companies in the world. Bernie Ebbers founded WorldCom in 1983‚ after that WorldCom began as a re-seller of long-distance telephone services. WorldCom is located at Mississippi. After Ebbers bought around 50 other small long-distance firms‚ he set his sight on MCI. Thus MCI WorldCom would have become the second biggest telecom service provider in 1997. MCI WorldCom was formed on September-15-1998
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Whistleblowers: Consequences of doing the right thing By Jose Gonzalez Dr. Aaron Bazzoli Park University MG 260 29 September 2013 Outline Purpose Statement: To provide an understanding what constitutes whistleblowing in an organization‚ what are some of the laws that protect whistleblowers‚ and provide several examples of employees blowing the whistle and their consequences? I. What constitutes a whistleblowing in an organization? A. Origin and Definition B. Internal
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| Whistleblowers and their protection | | | 1.0 Introduction Fraud is one of the risks will disruption business and its profitability. Fraud is based on trickery and deceit that it is particularly difficult to detect it. The most common means of detection fraud is whistleblowing. In certain countries‚ the term whistleblower is often associated with being a traitor or spy or even a snitch‚ and whistleblowers will be discriminatory or retaliation. Thus‚ establish an effectively
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Whistleblower Policy HR-PO718‚ | 1.1 Sharda Centre‚ Off Karve Road‚ Erandwane‚ Pune‚ Maharashtra‚ India 411004 www.techmahindra.com Copyright © 2013‚ Tech Mahindra. All rights reserved. WHISTLEBLOWER POLICY Company-Confidential Table of Contents 1. OBJECTIVE .................................................................................................................................. 3 2. SCOPE .........................................................................................
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Examining a Business Failure: WorldCom WorldCom was one of several large companies that failed because of inadequate organizational leadership‚ fraud‚ conspiracy‚ falsifying documents‚ and embezzlement. WorldCom has been classified as being “one of the biggest corporate scandals in Unites States history” (Zekany‚ 2004‚ p. 101). In 2001‚ the company’s financial condition began to decline due to the slowing telecommunications industry‚ which eventually put pressure on the company’s executive
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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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