Why Yes, Cleaning Up an Enormous Accounting Fraud Is as Bad as You Might Imagine

Before she became CFO of AES (and now Gannett), Victoria Harker had the distinct pleasure of mopping the floor at WorldCom after the company imploded in 2002 and, yeah, it was pretty awful: 

What has been your worst day on the job?
The WorldCom meltdown was likely the worst day on the job. I knew only how little we knew then about the state of the company’s financials, and had a growing sense of the enormity of the task ahead to “right the ship”: a $71 billion restatement, and 15 million lines of accounting code to be re-written!

[via CFO

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Thumbs down BDO LLP

Auditor Swap: AZZ Says Buh-Bye to BDO USA, Hires Grant Thornton

Auditor shopping has made the news a little more than usual of late, with high-profile companies like Fitbit and Goldman Sachs in the U.K. both kicking PwC to the curb in favor of a fresh, new set of eyes. Then there’s General Electric, which might end its century-old relationship with KPMG after this year. While […]