discussed Fraud in Financial Statements and Auditor Responsibilities.  We also, in the Fraud Exercise, reviewed several Fraud models including the Fraud Pentagon.  Using the Fraud Pentagon, discuss your perceptions of what was/were the key reason(s) for this scandal.  Also discuss your interpretations of the ethical/unethical aspects of the Worldcom Scandal.  In your discussion answer the following questions…

What elements of the Fraud Pentagon were present?

Which key characters demonstrated which elements?

What area or areas did the auditors come up short in (feel free to include Chapter 6 material if you wish)?

What ethical issues arose as a result of the behavior of the key characters, including the auditors?
The link:
https://www.youtube.com/watch?v=u_rfIboPyYs

https://www.youtube.com/watch?v=u_rfIboPyYs)