Financial Statement fraud
For Critical Thinking Assignment Option #2, read Case Study #2: WorldCom Corporation, in Albrecht et al. (2018) (Chapter 13, p. 480).
You are a financial examiner at WorldCom. You are assigned to try to determine how the financial statement fraud occurred at the WorldCom. You are conducting a preliminary review to report back to the lead financial investigator. When analyzing this case, consider only the information in the case study presented on pp. 480-481.
Discuss the WorldCom case (only as presented in the case study).
Outline the framework that would have detected the financial statement fraud.
Of the six (6) financial statement fraud anomalies, which were apparent in this fraud scheme?
Analyze the case and develop a plan, using strategic reasoning and the Fraud Exposure Rectangle, that would detect any fraud and concealment strategies used in the financial statement fraud schemes. Talk about the case of WorldCom (only as presented in the case study).
Describe the system that would have caught the fraud in the financial statements.
Which of the six (6) strange things on the financial statements were clear in this fraud scheme?
Analyze the case and come up with a plan using strategic thinking and the Fraud Exposure Rectangle to find any fraud and ways to hide it in the financial statement fraud schemes.
As you develop the plan, answer questions #2 and #3 on p. 481.
Adhere to the following standards:
The paper should be 4-5 pages in length, not counting the title or references pages, which must be included
4 references
