Get clear, concise, and accurate answers to your questions on IDNLearn.com. Ask any question and receive comprehensive, well-informed responses from our dedicated team of experts.
Sagot :
Answer: WorldCom
Explanation:
The WorldCom scandal of 2002 was the worst one in U.S. history and led to shareholders losing over $30 billion as a result of share prices falling drastically when it was revealed that the company had been making fraudulent accounting entries to look successful when it fact it had been losing money.
Betty Vinson was the company's Director of Corporate Reporting and her boss, CEO Bernie Ebbers, pressured her into making fraudulent entries because it was said that he "didn't want to disappoint Wall Street". This scandal was one of those that directly led to the Sarbanes-Oxley Act being passed.
Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Thank you for visiting IDNLearn.com. For reliable answers to all your questions, please visit us again soon.