Report of Investigation

In: Business and Management

Submitted By tikekee
Words 102110
Pages 409
REPORT OF INVESTIGATION
BY THE

SPECIAL INVESTIGATIVE COMMITTEE OF THE BOARD OF DIRECTORS OF WORLDCOM, INC.

Dennis R. Beresford Nicholas deB. Katzenbach C.B. Rogers, Jr.

Counsel Wilmer, Cutler & Pickering Accounting Advisors PricewaterhouseCoopers LLP

March 31, 2003

I.

SUMMARY AND CONCLUSIONS ................................................................................. 1 A. The Nature of the Accounting Fraud....................................................................... 9 1. 2. B. C. D. E. Reduction of Reported Line Costs .............................................................. 9 Exaggeration of Reported Revenues ......................................................... 13

WorldCom’s Culture ............................................................................................. 18 Compromising Financial Arrangements ............................................................... 24 Why WorldCom’s Auditors Did Not Discover the Fraud..................................... 25 WorldCom’s Governance...................................................................................... 29 1. 2. 3. 4. Board’s Lack of Awareness of Accounting Fraud .................................... 29 Adequacy of Board’s Oversight of Company ........................................... 30 Stock Sales ................................................................................................ 33 Lease of Airplane to Chairman of Compensation Committee .................. 34

II. III.

SCOPE OF INVESTIGATION ........................................................................................ 37 BACKGROUND............................................................................................................... 44 A. B. C. WorldCom in the 1990s: Growth Through Acquisitions ..................................... 44 WorldCom from 1999 -…...

Similar Documents

Investigation

...|Read this week’s Electronic Reserve Readings. | | | |Participation |Participate in class discussion. | |2 | |Discussion Questions |Respond to weekly discussion questions. | |1 | |Individual |Resource: Ch. 10 of The Art of Thinking | |6 | |Questioning and | | | | |Investigation |Suppose you live in a new suburban community that combines all the amenities and | | | | |benefits of a close, small community with the benefits of living near the big city. Some| | | | |years pass and several children and adults in the community start developing extensive | | | | |and similar illnesses. You think this is clearly not a case of genetics, and you become | | | | |suspicious that something has gone wrong in the development planning and execution of | | ...

Words: 4724 - Pages: 19

Criminal Investigation

...Police Department CRIMINAL INVESTIGATION Policy Number: OPS-6.02 REFERENCE: TPDM Policy OPS-6.02.1 Effective Date: June 1, 2000 Revised Date: October 20, 2004 Accreditation Standards: Mass. Gen. Law: Chap. 90, Sec.22B, MRCP 14(a)(1)(A)(viii) Other: Comm. v. DiGiambattista, District Attorney’s Guidelines on Identification Procedures _________________________ POLICY: It shall be the policy of the Truro Police Department to conduct criminal investigations for the purpose of clearing crimes by arrest and/or complaint; to prosecute lawbreakers; and to recover stolen property. Whenever members of this department conduct an investigation, which requires the interrogation of a suspect, or an interview, connected therewith, all constitutional and statutory rights guaranteed under the law shall be afforded to the individual. The Truro Police Department will ensure that there is a screening of all reported offenses to assure adequate follow-up investigation whenever appropriate. Whenever possible, the District Attorney’s Guidelines on Identification Procedures with attached forms and checklists will be used when dealing with photo line ups, arrays, show ups and taped interrogations and identifications. (Revised October 20, 2004) PROCEDURES: 1. UNIFORM PATROLMEN CONDUCT PRELIMINARY INVESTIGATIONS: Most preliminary investigations will be conducted by members of the patrol force since they are usually the first to arrive at the scene and can start the investigation without delay.......

Words: 4250 - Pages: 17

Soil Investigation

...DETAIL SOIL INVESTIGATION INTRODUCTION SOIL INVESTIGATION is carried out to design a right type of foundation safely and economically. A designer requires adequate information about the physical properties and the arrangement of the materials underground. The field and laboratory investigations needed to get this necessary information is known as soil exploration. The study of complete soil investigations can be grouped as follows : • Objectives or purposes, • Preliminary investigations, • Methods of site exploration, • Depth and spacing of trial pits and bore holes, • Choice of a method, • Recording of data. The investigation of the geology and previous uses of any site, together with the determination of its engineering, environmental and contamination characteristics is fundamental to both safe and economic development. [pic] SOIL TESTING • Soil tests can be conducted on samples that truly represent the soil at the site. • Soil sampling, testing and test interpretation must be conducted with guidance from specially trained and experienced personnel. • Proper soil testing is proven to be a reliable basis for the design of foundations and commonly used in site investigations to indicate their potential use and limitations. • Based on the premise that the behavior of soil masses under imposed conditions can be predicted if certain soil properties can be measured. • The results of soil tests must be interpreted based on past......

Words: 1681 - Pages: 7

Investigation

...between various people from around the world. Due to the rising popularity of use of social media a new field of study known as social media marketing came into existence that proved highly effective and efficient for business firms. “Social media marketing is the process of gaining website traffic or attention through social media sites. Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it across their social network” (Wikipedia, 2014). As said by Nielsen’s (2011), State of the Media: Social Media reports that 70% of social media users are engaged in online shopping (Nielsen, 2011).Consumers can access any site and get their needs fulfilled from any part of the world. Multi-national companies such as Apple, Samsung etc. have taken advantage of the growing opportunities in the field of social media marketing. This investigation focusses on the topic advantages and tools of social media marketing for various business firms. Social media marketing proves advantageous in providing a competent for companies that include social media marketing within their marketing strategies , one of the major advantage of social media marketing is the cost effectiveness , companies can communicate their ideas to large wide spread community all over the world in a minimum cost , this not only reduces the overall costs but also helps companies understand the consumer behavior and feedback of variety of consumers......

Words: 796 - Pages: 4

Scientific Investigation and Non-Scientific Investigation

...Law, K.Y. School of Arts and Social Sciences The Open University of Hong Kong Abstract The paper reviews the main difference between scientific investigation and non-scientific investigation and the change of the scientific principles from different approach. In the first section of the text, the author describes the definitions of scientific investigation and non-scientific investigation and the different of both researches. Furthermore, Using the example to explain the difference between the two, so that a better understanding. The second section of this study is to present three styles of scientific principles; it’s divided to positivist search, interpretive search and critical search. It’s analyze the different of the above search and described their characteristic and feature Introduction Scientific investigation is the way in which scientists and researchers use a systematic approach to answer questions about the world around the people. A scientific investigation is an empirical (measurable) study of a question using the scientific method. The main parts are listed below: (1) problem: the question people intend to answer, (2) hypothesis: the best anticipated guess to the outcome of the question, (3) experiment: study is carried out and the results are measured, (4) Results: the data/information measured during the experiment is organized in a meaningful way. Charts/graphs/tables are made, (5)discussion/analysis: the results are......

Words: 1386 - Pages: 6

Investigation Report

...U.S. CHEMIC AL S AFETY AND H AZ ARD INVESTIG ATION BOARD INVESTIGATION REPORT LPG FIRE AT VALERO – MCKEE REFINERY (Four Injured, Total Refinery Evacuation, and Extended Shutdown) Photo: Associated Press VALERO ENERGY CORPORATION SUNRAY, TEXAS FEBRUARY 16, 2007 KEY ISSUES: • FREEZE PROTECTION OF DEAD-LEGS • EMERGENCY ISOLATION OF EQUIPMENT • FIREPROOFING OF SUPPORT STEEL • FIRE PROTECTION FOR HIGH PRESSURE LPG SERVICE • CHLORINE RELEASE REPORT NO. 2007-05-I-TX JULY 2008 Valero - Sunray July 2008 Contents EXECUTIVE SUMMARY ..........................................................................................................................6 1.0 INTRODUCTION .........................................................................................................................10 1.1 1.2 2.0 Background....................................................................................................................... 10 Investigative Process......................................................................................................... 10 VALERO ENERGY CORPORATION.........................................................................................11 2.1 2.2 McKee Refinery................................................................................................................ 11 2.3 3.0 Company History .......................................................................................

Words: 13395 - Pages: 54

Project Report on Investigation of Noida Sez Exporters' Responses to Anti-Dumping & Allied Duties as Tariff Barriers for International Trade

...PROJECT REPORT ON INVESTIGATION OF NOIDA SEZ EXPORTERS' RESPONSES TO ANTI-DUMPING & ALLIED DUTIES AS TARIFF BARRIERS FOR INTERNATIONAL TRADE UNDER THE GUIDANCE OF PROFESSOR RITU SRIVASTAVA IN THE PARTIAL FULLFILLMENT OF POST GRADUATION DIPLOMA IN MANAGEMENT NIILM-CMS (2010-2012) INDEX SNO. TOPIC PAGE NO. 1. INTRODUCTION 3-6 2. RELEVANCE OF THE STUDY 7 3. RESEARCH OBJECTIVE 8 4. RESEARCH TOOLS AND METHODS 9-10 5. DATA ANALYSIS AND FINDINGS 11-15 6. CONCLUSION 16 7. RECOMMENDATIONS 17 8. RESEARCH LIMITATIONS 18 9. FUTURE AREA OF WORK 19 10. BIBLIOGRAPHY 20 11. ANNEXURE 21 INTRODUCTION: Our project is all about Anti – Dumping, other allied duties and the way these duties affect our Exporters. It also covers the protection policies like “Drawbacks” which our Exporters receive from the Indian Government. Before going into details about our project we would like to define some common terms which are related to our project like “Dumping and Anti – Dumping” etc. Dumping: The term Dumping is said to occur when the goods are exported from a country to another country at a price which is lower than its cost of production. It is therefore an unfair practice which can have a distortive effect on International ......

Words: 2681 - Pages: 11

Soil Investigation

...Soil investigation is often neglected or rejected by most clients on the basis of cost, despite the fact that the cost of carrying out a soil investigation is very little compared to the cost of the project Soil investigation is done for various purposes. In engineering, soil investigation is very necessary. It is essential to investigate the soil of the selected plot on which a structure will be constructed. Based on soil investigation a soil report is prepared for the purpose of designing the building foundation. When an engineer designs building foundation he/she must carefully read the report and design the foundation based on the data provided in the report. Soil investigation is required for the following purposes - To know the allowable bearing capacity of foundation for proposed building. To know the depth and type of foundation for the proposed building. To know the allowable passive resistance for the foundation of proposed building. To know the type, grading and nature of soil. To know the ground water level. Typical steps of soil investigation Soil investigation involves following steps –  Details planning for the sequence of operations.  Collecting the samples of soil from the plot.  Determining the soil characteristics by conducting field tests.  Study the condition of ground water level.  Collecting ground water sample for chemical analysis.  Soil exploration.  Testing all collected samples in the laboratory.  Preparation of......

Words: 1233 - Pages: 5

Crj 320 Wk 6 Field Report Crime Scene Investigation

...WK 6 FIELD REPORT CRIME SCENE INVESTIGATION To purchase this visit here: http://www.activitymode.com/product/crj-320-wk-6-field-report-crime-scene-investigation/ Contact us at: SUPPORT@ACTIVITYMODE.COM CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION CRJ 320 WK 6 Field Report Crime Scene Investigation - Murder Kicks Refer to the scenario Crime Scene Investigation – Murder Kicks, The Death of a Soccer Star, located in the online course shell. Write a three to four (3-4) page paper in which you: 1. Analyze the victim and physical evidence of the body as shown in the photograph. 2. Analyze the physical elements shown in the photographs of the inside of the house, noting how these elements connect to the crime. 3. Analyze the physical evidence from photographs of the exterior of the house, noting what might be the escape route. 4. Analyze the photo taken by a neighbor of a truck the week prior to the crime. 5. Propose a list of evidence that should be preserved and provide a rationale for each item on the list. 6. Propose a chain of preservation for the evidence. CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION To purchase this visit here: http://www.activitymode.com/product/crj-320-wk-6-field-report-crime-scene-investigation/ Contact us at: SUPPORT@ACTIVITYMODE.COM CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION CRJ 320 WK 6 Field Report Crime Scene Investigation - Murder Kicks Refer to the scenario Crime Scene Investigation –......

Words: 765 - Pages: 4

Crj 320 Wk 6 Field Report Crime Scene Investigation

...WK 6 FIELD REPORT CRIME SCENE INVESTIGATION To purchase this visit here: http://www.activitymode.com/product/crj-320-wk-6-field-report-crime-scene-investigation/ Contact us at: SUPPORT@ACTIVITYMODE.COM CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION CRJ 320 WK 6 Field Report Crime Scene Investigation - Murder Kicks Refer to the scenario Crime Scene Investigation – Murder Kicks, The Death of a Soccer Star, located in the online course shell. Write a three to four (3-4) page paper in which you: 1. Analyze the victim and physical evidence of the body as shown in the photograph. 2. Analyze the physical elements shown in the photographs of the inside of the house, noting how these elements connect to the crime. 3. Analyze the physical evidence from photographs of the exterior of the house, noting what might be the escape route. 4. Analyze the photo taken by a neighbor of a truck the week prior to the crime. 5. Propose a list of evidence that should be preserved and provide a rationale for each item on the list. 6. Propose a chain of preservation for the evidence. CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION To purchase this visit here: http://www.activitymode.com/product/crj-320-wk-6-field-report-crime-scene-investigation/ Contact us at: SUPPORT@ACTIVITYMODE.COM CRJ 320 WK 6 FIELD REPORT CRIME SCENE INVESTIGATION CRJ 320 WK 6 Field Report Crime Scene Investigation - Murder Kicks Refer to the scenario Crime Scene Investigation –......

Words: 765 - Pages: 4

Principles of Investigation

...1. The success of an interview or interrogation depends on a number of personal characteristics and commitments of the investigator. Planning for and controlling the events surrounding both interviews and interrogations are important but are generally viewed as more critical to the success of an interrogation. The success of the interviewer or interrogator and of the interview or interrogation is often determined by the time and dedication committed to preparing for the conversation. The interviewer must become familiar with the facts of the case under investigation and with the victim. The interrogator must learn as much as possible about the offense, the victim(s) and the suspect through the process of collecting, assessing, and analyzing data and theorizing about the motivations and thought processes of the suspect. These are some reasons that planning for an interview or interrogation are important and in many ways similar. In planning for an interview or interrogation, one must determine what questions will be asked to ensure they are good questions that will lead the interviewer or interrogator to the conclusions they are trying to reach. There are some instances where only moderate planning or preparation is necessary for an interview while extensive planning and preparation is needed to conduct an interrogation. The most common type of interview is an on-the-scene interview where extensive planning is not always a possibility. An examples of this is......

Words: 1863 - Pages: 8

Crime Investigation

...International Journal For Technological Research In Engineering Volume 1, Issue 9, May-2014 ISSN (Online): 2347 - 4718 DATA MINING TECHNIQUES TO ANALYZE CRIME DATA R. G. Uthra, M. Tech (CS) Bharathidasan University, Trichy, India. Abstract: In data mining, Crime management is an interesting application where it plays an important role in handling of crime data. Crime investigation has very significant role of police system in any country. There had been an enormous increase in the crime in recent years. With rapid popularity of the internet, crime information maintained in web is becoming increasingly rampant. In this paper the data mining techniques are used to analyze the web data. This paper presents detailed study on classification and clustering. Classification is the process of classifying the crime type Clustering is the process of combining data object into groups. The construct of scenario is to extract the attributes and relations in the web page and reconstruct the scenario for crime mining. Key words: Crime data analysis, classification, clustering. I. INTRODUCTION Crime is one of the dangerous factors for any country. Crime analysis is the activity in which analysis is done on crime activities. Today criminals have maximum use of all modern technologies and hi-tech methods in committing crimes. The law enforcers have to effectively meet out challenges of crime control and maintenance of public order. One challenge to law......

Words: 1699 - Pages: 7

Investigation

...Jamel Vilmont 10/26/15 Investigation #3 Analyzing Evidence 1. The solvents are the three sample, Water, Hexane and Ethanol used. The sample are the coo laid used which was red blue and yellow and the markers used which was orange, blue, black, red, and green. 3. The solvent of water mixed with the Kool-Aid created a mixed color of red and yellow for the red Kool-Aid and high streak for the blue Kool-Aid and a disappearance of the yellow Kool-Aid. With markers dipped in ethanol, it created a yellowish orange streak, s short blue streak with little bit of red at the top and a long black streak. 4. the two that I found very similar in my experiment was the H2O blue Kool-Aid with similar features as the blue ethanol. The H20 orange, blue and black markers with the hexane orange blue and black markers as well. Interpreting Evidence 1. from my results we come to a conclusion that the Kool-aid where more soluble in water while the markers weren’t. 2. the one with the highest number of components was the read kool-aid that was dipped in water and the orange and blue markers that was dipped in ethanol. No matter what the Kool-Aid reacted the most to each solvent Making Claims All the markers acted differently with in water, ethanol and hexon and all the coolaids acted the same way excepted with ethanol but for all of the yellow Kool-Aid, they all acted the same....

Words: 258 - Pages: 2

Auditing - What Is Investigation Distinguish Investigation from Audit.

...ASSIGNMENT SOLUTIONS, PROJECT REPORTS AND THESIS aravind.banakar@gmail.com ARAVIND - 09901366442 – 09902787224 AUDITING 1. Discuss the advantages and disadvantages of balance sheet audit. Also state the auditor’s position in relation to balance sheet audit. 2. Draft a form of questionnaire, that you would use to determine the effectiveness of the client’s internal control over payrolls. 3. An enterprise purchases an item of machinery on 1.4.2002 for Rs. 100,000. It depreciates this item at the rate of 10% per annum on straight-line basis. On 1.4.2005, the enterprise decides to change the method of depreciation from straight-line to written down value. The applicable rate under the new method is 15%. How should the enterprise give effect to this change in the method of depreciation? 4. Under what circumstances, an auditor can be appointed by the following: a) The Board of Directors b) The shareholders c) The central government 5. While examining the accounts of a company, you find the following items on credit side of profit and loss account: a) Profit on revaluation of land. b) Bounties received from central government c) Excess depreciation charged in the previous year now written back d) Unclaimed dividend Would you have any objection as auditor in passing the accounts of the company? State with reasons. 6. What is a Clean Report? Give a specimen of a qualified report of the......

Words: 328 - Pages: 2

Police Investigation

...Mr. Michael Munn, M.A. Mary Lara 02 March 2012 Criminal Investigation Principles Crime today has become complex as human nature. The sophistification of how crimes are committed today and the challenging of certain laws have added substantial burden to those who have chosen careers within the Criminal Justice System to investigate and prosecute such criminals. Many concerns in conducting the various types of investigations has always been the legality of the “how’s”, “who’s” and “when’s”. The collecting of physical and DNA evidence, Interviewing of witnesses and the various types of surveillances used all fall into a closely watched category within the investigation process. Not only is it imperative that all types of investigations are done correctly but the ultimate goal of a successful conviction clearly depends on it. One of the critical and most important areas of any investigation is the collection of evidence. Whether it be physical evidence such as fingerprints, tire marks, footprints, fibers or DNA evidence this area is vital, it can be the only key to link someone to a crime. However, to play it role, the evidence must be collected and analyzed properly. Prior to any collection of evidence photographing and filming must be done. An important general principle in evidence collection and to have such evidence admissible in court is to have a secure chain of custody. That is each person who handled the evidence from its collection to its appearance in court......

Words: 1298 - Pages: 6

Education and its value - 592 Words | Tamago APK | L incroyable voyage de mary bryant