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I need help for this assignment. I attached the file down below. Most of us choose to live an ethical life, but doing the right
I need help for this assignment. I attached the file down below.
Most of us choose to live an ethical life, but doing the right thing is not always easy, especially in pressure situations. You get to hear from David Myers, a person who once tried to live an ethical life but ended up playing a significant role in the WorldCom fraud - the largest fraud in history at that time (March 2002). Answer the following questions after watching \"Anatomy of a Fraud\" video: Q1: Name some recent frauds that you are aware of? If not, do some quick research and come up with at least three fraud scandals. Q2: What elements of the Fraud Triangle did you recognize in Myers' description of the situation at WorldCom? (Incentive or pressure? Opportunity? Attitude?) Q3. Early on, David Myers says he believed he was engaging in aggressive accounting rather than outright fraud. Do you believe there is a difference between the two? How would you determine when an action crosses an unacceptable ethical line? Q4. Even knowing what is right and wrong doesn't always mean someone will have the courage to do what's right. Myers says: \"Keep grounded, make sure your morals and ethics are yours, and stick by them.\" Why do you think Myers lacked the courage to do the right thing? How can you ensure that you will have the courage, if you ever found yourself in a similar situation? Is there any way to prepare? Q5. While David Myers bears some individual responsibility for what happened at WorldCom, there were also managerial and cultural factors that contributed. What changes in WorldCom's culture might have prevented the fraud from occurring? Q6. Based on the video, what cultural factors contributed to the WorldCom fraud? Q7. Based on the video, why didn't WorldCom employees raise concerns about the fraudulent accounting practices? Q8. Based on the video, what can young professionals do to help prevent fraudStep by Step Solution
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