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3 days ago · In 2001, Enron’s bankruptcy was the largest in U.S. history. Just a few months later it was dwarfed by the bankruptcy of WorldCom – yet another corporation caught cooking the books and leaving destruction in the wake of its scandal.
6 days ago · Time's 2002 pick was not one person, but three: Cynthia Cooper (WorldCom), Coleen Rowley (the FBI), and Sherron Watkins (Enron). All three were whistle-blowers. We detailed Cynthia Cooper's courage in exposing fraud at WorldCom in this chapter, but the stories of the other two whistle-blowers are equally worthwhile.
3 days ago · Enron, Tyco, and WorldCom to name a few. Investors lost hundreds of billions of dollars. Faith in the integrity of financial reporting was weakened.
4 days ago · In the early 2000s, it was the second-largest long-distance corporation in the U.S. 1 In 2002, she led her team to conduct a company audit in secret and uncovered an $11 billion accounting fraud—executives inflated earnings to maintain the stock price. 1 Cooper faced resistance from the CEO and understood that WorldCom’s downfall would harm employees not to mention public trust. 1
2 days ago · These corporate scandals, such as Enron, Worldcom, Parmalat and various other failures of global corporations such as the Global Financial Crisis (2007–2009), Volkswagen emissions scandal (2008–2015) and deepwater BP oil spill (2010), depict a common thread across corporate governance and corporate social responsibility (Crowther & Seifi, 2011; Goranova & Ryan, 2015).
4 days ago · The bill, which contains eleven sections, was enacted as a reaction to a number of major corporate and accounting scandals, including Enron and WorldCom.
3 days ago · outcry globally such as Enron and Worldcom all emerged in the USA and resulted in calls for corporate governance reforms, (Naik et al., 2020) including those specifically relating to the executive ...
