WorldCom is a company of American telecommunication .

At the time of the summer 2002, the image of this company was seriously tarnished by the scandal of countable handling. In 2001 and 2002, the operator had indeed declared nearly 11 billion dollars completely fictitious incomes. Following this discovery, the action of Worlcom dropped by 90% Monday July first -- the quotation of the action had been suspended on the Nasdaq of June 26th until July first.

The 14 April 2003, WorldCom the U.S.A. given its plan of reorganization to the court of the bankruptcies of the United States. The company chose to change name to adopt that of MCI , thus marking a turning in its history and also symbolizing all the changes occurred in its policy and its management.

Following the WorldCom business, it appeared necessary to the American financial authorities to give again confidence by the installation of radical reforms in the Gouvernance of company.

Bernard Ebbers, former president de WorldCom and at the origin of the transformation of the group into a giant of the télécoms, was condemned the July 13rd 2005 to 25 years of prison to have orchestrated the most important countable fraud of the American history which had led to the bankruptcy of the group. Scott Sullivan, the finance manager of Worldcom, when to him was condemned to five years of prison.

Articles

• http://www.lexpansion.com/art/17.175.0.0.html

• http://www.alternatives-economiques.fr/site/nouvelles_pages/004_202.html

See too

• Enron
• Xerox
• Standards IAS/IFRS
• Governorship of company and law Sarbanes-Oxley