Peer Review

The WorldCom Fraud

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Overview:: This PowerPoint presentation outlines the WorldCom fraud exposed in 2002. WorldCom's rise as an industry leader, the company's expansion, how the fraud was perpetrated and discovered, and post fraud happenings are addressed.
Type of Material:: Lecture or case study
Recommended Uses:: Educational resource that can be incorporated into classroom use in form of homework assignments, research projects, and lecture discussion.
Technical Requirements:: Web Browser and PowerPoint
Identify Major Learning Goals:: The purpose of the presentation is to explain how the fraud took place and was discovered, as well as the post fraud events that occurred.
Target Student Population:: Students of Accounting Information Systems, Auditing, Forensic Accounting, Fraud Examination, E-Commerce and Ethics classes.
Prerequisite Knowledge or Skills:: For a complete understanding of the slide set, accounting and business terminology beyond the basics is required.

Rating:
Strengths:: The author provides a relatively current ethical and e-commerce case study related to concepts taught in a variety of junior and senior level accounting courses in a concise and engaging manner. The explanation as to how the balance sheet and income statement were manuipulated is an excellent real-life illustration for an AIS, auditing, or forensic accounting course.
Concerns:: The materials do not include events subsequent to 2005. Since the presentation is in outline form content is somewhat abrupt. For general use by other instructors, the presentation would be enhanced by audio content or note pages that goes beyond the outline.

Rating:
Strengths:: Basic facts are easily obtained by the viewer. The presentation progresses in a logical fashion. Some relationships are explained. As a result teachers and students could learn a lot in a short time. It provides a very nice starting point for someone interested is using WorldCom as a case study.
Concerns:: Neither learning objectives nor prerequisite knowledge required has been identified. The presentaiton provides at times almost too brief of an outline of events related to the WorldCom fraud. As a result, for this module to be a significant learning tool, additional materials and discussion may need to be developed by the instructor.

Rating:
Strengths:: The module is very user friendly, entertaining, and visually appealing.
Concerns:: The slides are not interactive, in that they merely present information rather than including discussion questions or formative assessments.

Other Issues and Comments:: On this AICPA site arelinks to related information which should be used for full benefit. The slide set is dated (2005); not all post events related to World Com are included.
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