Please carefully read the case study titled "Accounting Fraud at Worldcom, Inc." which is included in your Harvard case study pack. Then answer the following questions in detail.

QUESTION $1$: Clearly and distinctly identify the internal and external controls at Worldcom and how they functioned. Comment particularly whether each internal or external control was effective in protecting the company against human errors or mis$-$behavior. Then comment carefully on the extent to which the failure$/$success of the company ultimately depended on the failure$/$success of each control. Indicate which internal controls contributed the most to the company$$s failure$/$success$.$

QUESTION $2$: Discuss the ethical code of conduct at the company and identify the extent to which this played a role in propagating and hiding the fraud. Do companies need a clear ethical code of conduct to prevent organizational failures? Why or why not?