WorldCom Scandal 2002

Internal Audit Report

Krissian Jen A. Gelacio

BSAct 4-A
 Internal Audit Report Letter

May 8, 2019

Board of Directors
WorldCom
Ashburn, Virginia

We have accomplished an audit of the WorldCom. We reviewed and audited information for
the period of 1999-2002.

We conducted this performance audit in accordance with Generally Accepted Government

Auditing Standards and the International Standards for the Professional Practice of Internal
Auditing. Those standards require that we need to plan and perform the audit to obtain
sufficient, appropriate evidence in order to provide a reasonable basis for our findings and
conclusions based on our audit objectives.

In planning and performing our audit of the financial statements and other physical
evidences, we had considered the internal control structure of the company in order to
determine our auditing procedures for the purpose of expressing an opinion on the financial
statements and not to just rely and provide assurance on the internal control structure of the
company.

During our audit, we noted certain matters involving the internal control structure and its
operations that we know these needed management’s attention. We believe that the evidence
obtained provides a reasonable basis for our findings and conclusions based on our audit
objectives.
We extend our appreciation to the management and staff of WorldCom for their assistance
and cooperation during the course of internal audit.

Krissian Jen A. Gelacio

Internal Audit, Director
Executive Summary
Scope of Audit
Objectives of the Audit
Executive Summary