Worldcom Scandal

Published / Last Updated on 17/07/2002

MP's have voiced concern for thousands of British workers in light of the Worldcom affair.

Robin Cook, leader of the House, said that MP's would want to consider lessons to be learned from Worldcom, in addition to their investigation into the collapse of Enron.  The potential collapse of Worldcom could cost 2500 jobs in the constituency of Reading West alone, confirms their Labour MP Martin Salter.

A progress report is expected from a group chaired by the trade minister and financial secretary, following a review of the UK's financial reporting and audit regulations systems in the wake of the Enron collapse.  A final report will be produced at a later stage.

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