"This morning I had an extensive, and I would say highly productive, meeting with Harvey Pitt, the commissioner of the SEC, and his staff, regarding their concerns about our response to the order of information," Sidgmore said at a news conference at the National Press Club.

"There remain many open questions, and quite a bit of speculation as to exactly what occurred," he said. "We will release everything we know when we know it."

The company disclosed last week that it would restate $3.8 billion in earnings for 2001 and the first quarter of 2002. WorldCom said certain transfers from line cost expenses to capital accounts during this period were not made in accordance with generally accepted accounting principles.

"What we are going to do is investigate any past digression and move forward in a responsible manner," said Sidgmore. Based in Clinton, Miss., WorldCom is the second largest data services provider in the United States, whose clients include the State Department and the Defense Department.

The company Monday outlined for the SEC its recent earnings misstatements and said it was continuing to review its financial records from 1999 and 2000 for additional accounting irregularities.

"In particular, questions have been raised regarding certain material reversals of reserve accounts during 2000 and 1999," WorldCom said in a sworn statement. "No conclusion has been reached regarding these entries."

The SEC blasted as inadequate and incomplete the report by WorldCom filed Monday that laid out the timeline in which the company discovered its accounting problems.

"WorldCom's statement is wholly inadequate and incomplete," said Pitt. "It demonstrates a lack of commitment top full disclosure to investors and less than full cooperation with the SEC."