Accounting Fraud at WorldCom Free Essay, Term Paper and Book Report
Problem Statement
This section reviews the events that lead up to the failure of Worldcom. The root cause review evaluates the problem similar to that of a fire. Like in all fires, multiple factors must contribute to the event. The presence of these contributing factors does not necessarily equate to a problem but rather the lack of its existence may reduce the likelihood of the event from occurring. The catalyst can be viewed as the driving item that ignited the environment which led to the resulting problem.
Contributing factors
Worldcom Culture - Years of success through acquisition: Worldcom's success was built primarily through the acquisition of companies through the earlier years. Acquisition included successful purchases of MFS and MCI. The failed acquisition of Sprint in July of 2000 terminated Worldcom's strategy for growth. Bernie Ebbers only looked forward for growth and did little to integrate the multiple acquired businesses. The hierarchal structure instilled into the company by Bernie Ebbers demanded only results which created the pressures that led to th......
Word Count: 2914
Page Count: 11.6 (250 words a page / double spaced)
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