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Accounting; Auditing; Dot com bubble; External environment; Fraud; Fraud triangle; Internal controls; Internal environment; Sarbanes oxley; Telecomm bubble
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The Accounting Fraud At Worldcom The Causes, The Characteristics, The Consequences, And The Lessons Learned, Javiriyah Ashraf
The Accounting Fraud At Worldcom The Causes, The Characteristics, The Consequences, And The Lessons Learned, Javiriyah Ashraf
HIM 1990-2015
The economic prosperity of the late 1990s was characterized by a perceived expansive growth that increased the expectations of a company's performance. WorldCom, a telecommunications company, was a victim of these expectations that led to the evolution of a fraud designed to deceive the public until the economic outlook improved. Through understanding what led to the fraud, how the fraud grew, and what its effects were, lessons can be derived to gain a better understanding of the reasons behind a fraud and to prevent future frauds from occurring or growing as big as the WorldCom fraud did.