The US government has argued that the company still lacks sufficient ethical controls following last year’s $11bn accounting scandal although current federal contracts with MCI will not be cancelled, according to the body responsible for handing out government work.
MCI has said that it will not challenge the decision and chairman Michael Capellas said that the company was in the process of rebuilding its ethics program.
The company is still under investigation over allegations of falsified balance sheets and inflated earnings and has been accused by its telecom rivals of defrauding them out of hundreds of millions of dollars.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements