y terity and one on one many and Weddindinthehin sy records discovered that he is we recorded on boks 1999 to the first of 2002 This involved the manipulation of residence QUESTION cstimated losses such as uncollected payments from comers and judgments in twoits ther expected costs WorisCom's chief executive, John Sidemore, blumed the company's former chier financia officer, Scott Sullivan, and the former controller, David Myers The two were fired and arrested and charged with security fraud. conspiracy and other charges. World Com's auditors were Arthur Anderson, the same firm charged with Erron's frauds as Tyco, Global Crossing and Adelphin all hit by financial malpractices and charged for financial fraud in the early 2000. Arthur Anderson charged with negligence, also accused Sullivan withholding information from them Required a) Discuss the professional responsibilities and liabilities of the directors of a that of the auditors in view of the World Com case. b) Analyse five (5) professional ethics and five (5) code of conduct requirements of the external auditors in the light of the World Com case. Total Marks 20 De still come deligne, and expaliton los salt regte gove Brauha (10 mark) (10 marks) QUESTION 2 (8 marks) a) Explain four (4) of the steps involved in the audit planning procedures. 2 of 3 pages