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The Reasons for the Collapse of WorldCom in 2002
Finance & Accounting
Pages 8 (2008 words)
WorldCom Table of Contents WorldCom 1 Table of Contents 2 Introduction 3 Brief Background of WorldCom 4 The Reasons behind the Collapse 5 The Nature of the Frauds 8 Conclusion 12 References 13 Bibliography 15 Introduction In the year 2002, a few instances of corporate issues were witnessed which included the cases of Enron and WorldCom.
Corporate governance is known to entail associations amid the board, other bodies involving an indirect form of engagement with the organization, management and stakeholders of the organisations. The mentioned aspect is even supposed to present a comprehensive composition from which the intentions of that particular organization are believed to descend. However, it becomes imperative to mention the procedure through which the behaviours of the directors in a particular organization are supervised and controlled. The process is also learnt to entail the factor of decision making, supervision and responsibility and is termed as corporate governance on the whole (Monks & Minow, 2011: 433). Brief Background of WorldCom WorldCom was founded in Mississippi. The nature of its business operations was telecommunications and the company was learnt to have surfaced from murkiness in a period of rage in relation to corporate behaviour with regard to the mentioned sector. The rage was measured to be let loose as a result of deregulation in the telecommunications sector in the United States (US). ...
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