![]() Congress, Joint Committee on Taxation, via Federal Depository Library Program Electronic Collection Archive. ![]() “ Federal Jury Convicts Former Enron Chief Executives Ken Lay, Jeff Skilling on Fraud, Conspiracy and Related Charges.” “ Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations,” ( of PDF). “ H.R.3763-Sarbanes-Oxley Act of 2002.”Ĭornell Law School, Legal Information Institute. “ The Quality of Corporate Financial Statements and Their Auditors Before and After Enron,” Pages 12 and 21.Ĭ, U.S. “ Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations,” Pages 12, 37, 58, 85, and 428 (Pages 34, 59, 80, 107, and 450 of PDF).Ĭato Institute, Policy Analysis. “ Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compensation Issues, and Policy Recommendations,” Pages 2, 5, 70–71, 77, 79, and 84 (Pages 24, 27, 92–93, 99, 101, and 106 of PDF). The Andersen mistakes led to an increase in diligence among auditors, which is known as the Andersen Effect. In addition to Enron’s own implosion, its accounting firm, Arthur Andersen (one of the Big Five accounting firms in the United States at that time), was found guilty of destroying documents and had its license to audit companies revoked, effectively putting the firm out of business. As a result of the audits, Enron filed for bankruptcy with $63.4 billion in assets-at the time, the largest U.S.The Enron audits led to a restatement of debt and earnings dating back to 1997.Securities and Exchange Commission (SEC) investigation and an accounting overhaul. Investors and business partners became increasingly alarmed because no one understood how Enron made money, leading to a U.S.Enron achieved its elevated status by engaging in many dubious accounting practices, using various off-balance sheet and third-party vehicles to remove debt from its balance sheet.Enron was once a massive energy conglomerate, involved in everything from energy production to water treatment and broadband trading.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |