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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 102 / 352

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© D.L. Crumbley

Journal Entries at Year End

Apparently, Arthur Andersen was given limited access to the general ledger at WorldCom, which had a $11 billion fraud (largest accounting fraud in history). Most of the original entries for online costs were properly placed into expense accounts.

However, near the end of the period these entries were reversed. One such entry was as follows:

Other Long-term Assets$629,000,000

Construction in Progress         $142,000,000

Operating Line Costs$771,000,000

The support for this entry was a yellow post-it note.

WorldCom’s outside auditors refused to respond to some of Cynthia Cooper’s questions and told her that the firm had approved of some of the accounting methods she questioned.

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