SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : WCOM
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: hdl who wrote (10826)6/25/2002 10:53:51 PM
From: tejek   of 11568
 
On June 24, 2002, Andersen advised WorldCom that in light of the inappropriate transfers of line costs, Andersen's audit report on the company's financial statements for 2001 and Andersen's review of the company's financial statements for the first quarter of 2002 could not be relied upon.

Its Andersen that amazes in these corporate scandals. There was a whole corporate culture of bending to the will of their clients. I now understand better the reaction of the Andersen CEO, I think that's who it was after he went in front of the Senate. He was furious that the Senate nailed Anderson. The guy complained that even when you are forthcoming with the facts [instead of having them squeezed out of you], you don't get treated well.

I thought, oh my God, he doesn't get it at all. No wonder they are behind so many of these financial fiascos. And the average investor is getting burned by idiots like this.

ted
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News