Extraordinary Circumstances - The Journey of a Corporate Whistleblower by Cynthia Cooper; A Review

The year 2002 was when the chief of internal audit WorldCom Inc, Cynthia Cooper blew the whistle and opened the world's biggest fraud ever in the history of U.S. corporatism of fraud amounting to a staggering $ 11 billion. After that, the company, CEO Bernie Ebbers is serving a prison extended sentence and Scott Sullivan, chief financial officer who ordered the fraud and forced WorldCom to meet its revenue goals - had been sentenced to lengthy terms in prison.

So what happened at WorldCom? According to Cooper, it was a fairly simple accounting fraud and hidden, but not nearly as specialized off-balance sheet items at Enron, and it was committed to keep the company is not so Fastow figure can skim illegal for personal gain. In principle, WorldCom PacCom played in the 1980's and 1990's to chew telecommunications and Internet companies, but their lack of integration. Cooper argues that it was not, AOT fraud or deception, exposing killed WorldCom; it became a dead company walking, when the Internet bubble burst in 2000 and sucked in the whirlpool of telecommunications.

The most attractive part of the book, when Cooper tells the story of a few months before and after she and her team of internal auditors have found fraud, according to its internal audit committee, and all hell. WorldCom began lumbering Frankenstein, AO monster acquisitions, but it does not have a single set of operating systems. You can only make savings from the acquisition of boring things to do rapid cutting duplication and waste. Instead, she was faced with rising costs associated with managing a hodge-podge of companies , loss of revenue in the telecom collapse, and the prices of shares that burst in a bubble, and that was when the ...