Worldcom-Accounting-Fraud-世通财务造假案例分析PPT资料.pptx
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Worldcom-Accounting-Fraud-世通财务造假案例分析PPT资料.pptx
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Accountingfraudintwomethod:
improperreleaseofaccrualsimpropercapitalizationofoperatingexpense,NatureofAccountingFraud,Problems(Internal),FailuretoacquireSprintThepoorperformance,Lossofstrategicdirection,employeesshouldnotquestiontheirsuperiorsthereisnowrittenpolicies.Eachdepartmenthaditsownrules,Corporateculture,legalfunctionwaslessinfluentialandlesswelcomethaninahealthycorporateenvironmentThecorporategovernancestructureissocomplicatedInformationisnotconsolidated,Organizationalstructure,50%ofnonexecutivemembersNoregularcommunicationDecisionsnotbasedontheinterestofshareholders,butpersonalinterests.,Boardofdirectors,Problems(External),Formerlybigfive,ExternalAuditor,Fastgrowingsalesrevenue,ExternalAuditor,TestinginformationaccuracyratherthancomparabletestsChangedtheratingfromhighriskaccordingtosoftwaretomoderaterisk,ExternalAuditor,NASDAQstockpricefrom1994to2008,Economicaldownturn,Impactoftheaccountingfraud,FallofWorldCom,FallofWorldCom,WhathappenedonseniormanagementEbbers-CEO25yearsinprisonSullivan-CFO5yearsinprisonMyers-controller1yearinprisonYates-DirofAcctg1yearinprisonVinson-AcctgDept5monthsinprisonManager5monthshousearrestNormand-AcctgDept3probationManager,Boardofdirector12directoragreedtopayatotalof$25mtosettlesecuritiesclassactioncaseInvestmentBankers:
settlementofsecurityclassactionCitiGroup$2.6billionJPMorgan$2.0BOther$1.4BGrubmanandSolomanBrotherSecuritiesAnalystfined$15Mandbannedforlifefrompractice.,FallofWorldCom,AccountingSystemProblem:
Eachdepartmenthaditsownrulesandmanagementstyle.Nobodywasonthesamepage.Solution:
Buildfair,clearandintegratedaccountingsystem.Ensureaccurate,reliableaccountingrecords.,lessonsfromit,AccountingSystemProblem:
employeesshouldnotquestiontheirsupervisorSolution:
Reducemanagementsintervenetothenormaldailyrecording.,lessonsfromit,AuditingSystemProblem:
BettyVinson,SeniormanagerofGeneralAccounting,followedsupervisorsillegalinstructionofrecordentryalthoughherprofessionaljudgmenttellherthatiswrong.Solution:
Builduptheproperauditingsystemthatallowswhistleblowinginternally.,lessonsfromit,AuditingSystemProblem:
InternalCynthiaCooper,HeadofInternalAuditdepartment.Foundtheaccountingissuesbutwasntallowedtocheckindepth.Solution:
Enforcethepowerofinternalauditingdepartment.,lessonsfromit,AuditingSystemProblem:
ExternalConflictof“satisfying”customersandauditingethicsSolution:
SECregulationonexternalauditingfirmsandindustryselfregulationrules.,lessonsfromit,Supposeyouwere:
AmotherfortwokidsInmid40PursuingpromotionWhatyouwoulddoifyouwereBettyVinson?
Ethicalchoices,AsBettyVinson,youcouldhave:
TalktointernalauditingdepartmentandprovidetheinformationButbeforeyoublowthewhistle,alwaysremembertoprotectyourselfby:
Savingtherelevantevidenceidentifythesourcesofsupport,Ethicalchoices,Alwaysremember:
Nojobsisworthbreakingthelawsorcommittingunethicalactions.Yourpersonalintegrityisyourmostimportantasset-youownitandcontrolit!
Ethicalchoices,THANKYOU!
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- Worldcom Accounting Fraud 财务 造假 案例 分析