Audit and Wall Street

13173 WordsDec 1, 201353 Pages
THE ACCOUNTING FRAUD @ WORLDCOM: THE CAUSES, THE CHARACTERISTICS, THE CONSEQUENCES, AND THE LESSONS LEARNED by JAVIRIYAH ASHRAF A Thesis submitted in partial fulfillment of the requirements for Honors in the Major Program in Accounting in the College of Business Administration and in The Burnett Honors College at the University of Central Florida Orlando, Florida Spring Term 2011 Thesis Chair: Dr. Pamela Roush Abstract 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…show more content…
26 Capitalizing Line Costs ......................................................................................................... 28 Revenue..................................................................................................................................... 29 Discovery .................................................................................................................................. 30 The Internal Auditors ............................................................................................................ 30 Sullivan‟s White Paper ......................................................................................................... 31 Fraud Triangle ........................................................................................................................... 32 Pressure ................................................................................................................................. 32 Opportunity ........................................................................................................................... 34 Rationalization ...................................................................................................................... 35 Characteristics Conclusion........................................................................................................ 36 Consequences

More about Audit and Wall Street

Open Document