Essay --

When Scott Sullivan found out that Cooper was asking questions, Sullivan was â€Å"furious† with her and told her not to concern herself with financial audits (Anderson 51). Cooper and her team then made the decision to â€Å"quietly† investigate company accounting entries. The audit team made their first discoveries of fraudulent entries in May, 2002. They were able to trace fraudulent entries back to 2000. Less than a week after the Fort Worth Weekly article was printed, WorldCom accounting employee Mark Abide read the article. Having serious concerns about its revelations, Abide forwarded a copy to Glyn Smith who was on WorldCom’s internal audit staff. On May 29, 2002, WorldCom’s internal audit team, who was led by Cynthia Cooper, met to discuss an audit report as well as the Fort Worth Weekly article on Kim Emigh. During this meeting the audit team discussed â€Å"$1.4 billion that had been added to the company’s capital expenses† (Krim 5). It should also be noted that during this time, WorldCom’s external auditor, Arthur Anderson had just been indicted in the Enron scandal. Additionally, WorldCom’s CEO, Bernie Ebbers, had just resigned as large loans he received form the company had come to light sparking an investigation by the SEC. An accounting department employee, Sanjeev Sethi, at the internal audit meeting revealed that his department did not generate the $1.4 billion adjustments. The adjustments came from higher up in the organization. Cynthia Cooper and the audit team began to investigate the adjustments. Just days later, David Myers wrote multiple notes to Cooper attempting to keep Sethi from looking into capital expense reports. Cynthia Cooper confronted Betty Vinson who had processed the fraudulent entries. Vinson ackn... ...there . . . (United States of America V. Bernie J. Ebbers 2002, 27) The second piece of evidence is a memorandum the Ebbers sent on July 10, 2001, to a senior WorldCom officer requesting information concerning â€Å"those one time events that had to happen in order for us to have a chance to make out numbers† (United States of America V. Bernie J. Ebbers 2002, 27). Being that Sullivan was comfortable enough leaving Ebbers a voicemail using terms such as â€Å"one time stuff† and â€Å"junk. . . in the numbers† along with Ebbers’ own memo is enough evidence, in and of itself, to suggest Ebbers wasn’t innocent in perpetuating the fraud. Fraud Victims The fraud perpetuated by WorldCom executives casts a big shadow with wide ranging effects. The fraud has claimed numerous victims. Not only did thousands of employees lose their jobs, they lost their means to support their family. Essay -- When Scott Sullivan found out that Cooper was asking questions, Sullivan was â€Å"furious† with her and told her not to concern herself with financial audits (Anderson 51). Cooper and her team then made the decision to â€Å"quietly† investigate company accounting entries. The audit team made their first discoveries of fraudulent entries in May, 2002. They were able to trace fraudulent entries back to 2000. Less than a week after the Fort Worth Weekly article was printed, WorldCom accounting employee Mark Abide read the article. Having serious concerns about its revelations, Abide forwarded a copy to Glyn Smith who was on WorldCom’s internal audit staff. On May 29, 2002, WorldCom’s internal audit team, who was led by Cynthia Cooper, met to discuss an audit report as well as the Fort Worth Weekly article on Kim Emigh. During this meeting the audit team discussed â€Å"$1.4 billion that had been added to the company’s capital expenses† (Krim 5). It should also be noted that during this time, WorldCom’s external auditor, Arthur Anderson had just been indicted in the Enron scandal. Additionally, WorldCom’s CEO, Bernie Ebbers, had just resigned as large loans he received form the company had come to light sparking an investigation by the SEC. An accounting department employee, Sanjeev Sethi, at the internal audit meeting revealed that his department did not generate the $1.4 billion adjustments. The adjustments came from higher up in the organization. Cynthia Cooper and the audit team began to investigate the adjustments. Just days later, David Myers wrote multiple notes to Cooper attempting to keep Sethi from looking into capital expense reports. Cynthia Cooper confronted Betty Vinson who had processed the fraudulent entries. Vinson ackn... ...there . . . (United States of America V. Bernie J. Ebbers 2002, 27) The second piece of evidence is a memorandum the Ebbers sent on July 10, 2001, to a senior WorldCom officer requesting information concerning â€Å"those one time events that had to happen in order for us to have a chance to make out numbers† (United States of America V. Bernie J. Ebbers 2002, 27). Being that Sullivan was comfortable enough leaving Ebbers a voicemail using terms such as â€Å"one time stuff† and â€Å"junk. . . in the numbers† along with Ebbers’ own memo is enough evidence, in and of itself, to suggest Ebbers wasn’t innocent in perpetuating the fraud. Fraud Victims The fraud perpetuated by WorldCom executives casts a big shadow with wide ranging effects. The fraud has claimed numerous victims. Not only did thousands of employees lose their jobs, they lost their means to support their family.