WorldCom the #2 long distance communication carrier in the United States has been in news lately because of its fraudulent practice of disguising approximately $ 3.8 billion in expenses, which resulted in fictitious profit earnings. WorldCom internal auditor Ms. Cynthia Cooper blew the lid on this accounting practice. The $ 3.8 billion fiasco at WorldCom coming after the fall of power giant Enron has considerably eroded the investor's confidence in big corporations and government regulatory b...
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