We have seen some spectacular failures of corporate governance in the last few years. Please identify and discuss one such company (not Enron) and describe the nature of the actions that resulted in legal intervention by one or more governmental agencies or the court systems.© BrainMass Inc. brainmass.com March 4, 2021, 8:14 pm ad1c9bdddf
From 1999 to 2002, WordCom was involved in a fraudulent accounting scandal. They showed a false picture of financial growth in order to heighten the price of WorldCom's stock. The CFO was Scott Sullivan, the Controller was David Myers and the Director of Accounting was Buford Yates.
The scandal was furthered by:
1. Underreporting the interconnection expenses with other telecommunication companies by capitalizing the costs ...
The solution discusses corporate governance scandals, not including Enron.