Professional ethics for accountants
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WorldCom - a Case Study
This section of the learning module focuses on the WorldCom scandal. Students are required to undertake some research into the main causes of the scandal and watch a video interview with David F Meyer, former WorldCom Financial Controller.
Another high profile failure was that of WorldCom. This US based telecommunications company is perhaps best known for a massive accounting scandal that led to the company filing for bankruptcy protection in 2002. WorldCom executives effectively fudged the company's accounting numbers, inflating the company's assets by around $12 billion dollars. The swift bankruptcy that followed led to massive losses for investors.
Activity 2:
Using the SEC report and/or your own internet research, prepare a summary (of approximately 800-1,000 words) on what you believe the key issues were in relation to the accounting scandal that occurred at WorldCom.
Using the SEC report and/or your own internet research, prepare a summary (of approximately 800-1,000 words) on what you believe the key issues were in relation to the accounting scandal that occurred at WorldCom.
Watch the following video. The video takes 19:33 minutes and is an interview with David F Meyers, the controller of WordCom. In the video Meyers explains what led him to participate in the fraud.
For the following activity you are required to access another Padlet. Each student is required to make two short posts to the wall (maximum of 100 words each) answering the following two questions. Your post may be in bullet point form, a list of key words or a few short sentences.
Activity 3:
Consider the following questions:
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You should now move to the next tab "An introduction to the Code"