London, Ontario, Canada, 130 King St. West Terms 9. As the former Vice President of Internal Audit at WorldCom, she helped uncover a $3.8 billion accounting fraud scandal in the telecom giant – the biggest of its time. Whether at home, work or school, use the same ethical judgement. https://en.wikipedia.org/w/index.php?title=Cynthia_Cooper_(accountant)&oldid=975407060, Articles with short description added by PearBOT 5, Wikipedia articles with WorldCat identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 28 August 2020, at 10:00. 7. When pressed for an explanation, Sethi said that he did not know what the term meant, even though his division approved capital spending requests. '", For the basketball player of the same name, see, "How Three Unlikely Sleuths Exposed Fraud at WorldCom: Firm's Own Employees Sniffed Out Cryptic Clues and Followed Hunches", "One right path: Cynthia Cooper: MCI vice president of internal audit Cynthia Cooper believes that where ethics are concerned, you have to obey your conscience and accept the consequences - Interview". At the time, this was the largest incident of accounting fraud in U.S. history. Apply the golden rule. How would you feel if your parents, peers and mentors knew? 2. Above being loyal to your superiors, be loyal to your principals. Terms of Use  |  Privacy Policy  |  Western University, COVID-19 Information for the Ivey and Western Community, the Ian O. Ihnatowycz Institute for Leadership, How Canadian education transforms a new generation of leaders. Apply the same code of ethics to every aspect of your life. © 2003-2020 Chegg Inc. All rights reserved. What do you think she could have done differently and why, and if you don't think she could have handled it any better, then also explain why. 5. But the odyssey that began when Cynthia Cooper, the then–vice president of internal audit at WorldCom, decided to investigate anomalies in the company’s accounting entries ended by inspiring critical — and heavily criticized — legislation: the U.S. Senate responded to revelations about massive accounting fraud at the telecom giant by adding Section 404, on the assessment of internal controls, to the Sarbanes … Find your courage. However, the amounts were bouncing between accounts in an unusual manner, resulting in a large round amount moving from WorldCom's income statement to its balance sheet. Daily Return to Campus Questionnaire. London, Ontario, Canada. 8. & Don’t compartmentalize. Now she is a best-selling author, consultant and speaker on ethical leadership, working to inspire the next generation of business leaders to develop a “moral compass.”. She is a Certified Fraud Examiner (CFE).[2]. As the former Vice President of Internal Audit at WorldCom, she helped uncover a $3.8 billion accounting fraud scandal in the telecom giant – the biggest of its time. Wanchai, Hong Kong, 551 Windermere Road 1255 Western Road Cooper worked for the Atlanta offices of public accounting firms PricewaterhouseCoopers and Deloitte & Touche, and became Vice President of Internal Audit at Worldcom. “I encourage people to write their own personal mission statement. Morse was eventually able to find one and trace it through the system. :231–233[1][4][5]. Practice making ethical decisions every day. She was joined by other industry professionals including Steinthor Palsson, former CEO of Landsbankinn, and Nicole Verkindt, founder of OMX and Dragon on Next Gen Den. [8], "Cynthia Cooper chronicles her experience during the rise and fall of WorldCom in her book 'Extraordinary Circumstances. Ask yourself tough questions. Think about your priorities and be intentional,” said Cooper. Our reality is based on the little decisions we make everyday. 10. Not many people understand the challenges of doing the right thing like Cynthia Cooper. Eventually, he and the rest of the team began working at night. In 2002 Cooper asked Morse to see if there was another 'prepaid capacity' entry that moved around in similar fashion. But as vice president of internal audit she discovered some suspicious entries in the company's books. Understand you’re capable of making bad decisions. 4. Abide was not familiar with it either, even though he had made several entries about 'prepaid capacity' in WorldCom's computerized accounting system.[3]:225. He referred the auditors to corporate controller David Myers. Since leaving what became MCI, Cooper started her own consulting firm, and also speaks to both professionals and students to share her experiences and lessons learned. [3]:225–227 Morse went to work, but pulled so much data that he frequently clogged up the accounting servers. 6. View Cynthia Cooper’s profile on LinkedIn, the world's largest professional community. Her tenacious investigations uncovered the largest fraud in corporate history. January 14, 2009 Cynthia Cooper brought a corporate giant to its knees and now she's filling seats by telling her story. Would you stand by your decision if it landed on the front page of the paper? “I think we all have courage within us,” said Cooper. Cooper was named one of three " People of the Year " by Time magazine in 2002. Profits from the book were given to universities for ethics education. Trust your gut. Don’t assume that what your superiors are telling you is right just because of their authority. “I was not a pillar of strength throughout this process. Cynthia Cooper – named one of Time Magazine’s Persons of the Year for her role in unraveling the fraud at WorldCom - is an internationally recognized motivational speaker, author of Extraordinary Circumstances and consultant as CEO of The CooperGroup. How do you what to live your life? There were times I was scared to death but I had to find a way to push forward in the face of fear.”. Simply put, treat others as you wish to be treated. Cooper's book about her life and the WorldCom fraud, Extraordinary Circumstances: The Journey of a Corporate Whistleblower,[6] was published in 2008. Speech given at Army & Navy Club in Washington DC later shown on C-Span. Talk it out. Cynthia Cooper is an American accountant who formerly served as the Vice President of Internal Audit at WorldCom where her team exposed the largest accounting fraud in U.S. history - ($3.8 billion). She married Lance Cooper in 1993; they have two children, Stephanie and Anna Katherine. During a meeting with the auditors, corporate finance director Sanjeev Sethi explained that differing amounts in two capital spending expenditures related to 'prepaid capacity'. [3]:223–225 Suspicious, Cooper asked Mark Abide, head of property accounting, about the term. Don’t keep it to yourself. Cynthia Cooper is an American accountant who formerly served as the Vice President of Internal Audit at WorldCom where her team exposed the largest accounting fraud in U.S. history - ($3.8 billion).[1]. Cynthia Cooper played a vital role in exposing the accounting fraud at Worldcom, and she deserves a lot of praise for her tenacity, relentlessness, and bravery in getting to the bottom of the fraudulent bookkeeping. Cooper explained that when you look behind the accounts and numbers, no matter what fraud was committed, it comes down to people and choices. What are your values? “Although making the right choice may not always be easy or clear, I believe there is a true north and there are values in the world that most people can agree on.”. Phase 1, Room S320A, Level 3 [4][2], Cooper was named one of three "People of the Year" by Time magazine in 2002, along with fellow whistleblowers Sherron Watkins and Coleen Rowley. The compound effect. Not many people understand the challenges of doing the right thing like Cynthia Cooper. Know what you stand for. Here are Cooper’s 10 tips for making the right choices in business and in life: 1. 1 Harbour Road “For me, I went on my gut instincts and just kept pushing.”. COVID-19 Information for the Ivey and Western Community. View the profiles of professionals named "Cynthia Cooper" on LinkedIn. Cynthia Cooper played a vital role in exposing the accounting fraud at Worldcom, and she deserves a lot of praise for her tenacity, relentlessness, and bravery in getting to the bottom of the fraudulent bookkeeping. [3]:220–221 No one is perfect. Cynthia has 6 jobs listed on their profile. Through understanding our own moral compass, Cooper said we are much more likely to making the right decisions, as leaders and beyond. There are 600+ professionals named "Cynthia Cooper", who use LinkedIn to exchange information, ideas, and opportunities. Known internationally as the WorldCom whistleblower, Cooper and her team of internal auditors launched a 2002 investigation that uncovered $3.8 billion in fraud — the largest corporate fraud in history at that time. And remember, “Just because it’s legal doesn’t mean it’s the ethical or right thing to do.”. Subscribe today and stay up to date with the latest news from Ivey Business School. Toronto, Ontario, Canada, HKCEC Cynthia Cooper just wanted to live a quiet life working for the pride of Mississippi - WorldCom.