ENRON was an American energy company based surface of Houston, Texas. During the 1990s, it was considered one of the most positionful and successful corporations in the world. In 2001, however, investigations revea direct that ENRONs successful image had been created by defrauding stockholders, regulation agencies, employees and the customary public. Their immoral behavior showed how millions of peoples lives could be touch forever. The trouble began at ENRON when the management chose to act unethically by providing false income statement figures. This eventually escalated into a multi-million dollar disaster. This was merely done in hopes that they would attract new investors, but one time it was all said and done they could not undo the damage. Their decisions led to the company collapsing and losing billions of investors.
Arthur Andersen, who was the accounting firm, was found to be a study factor in the scandal. They falsified ENRONs records and overstated the companys equity and income. They later admitted to being involved in partnerships with early(a) entities that they had created in order to hide their debt and losses. Some of the internal sources attempt to speak out on what was going on, but their allegations were ignored.
By the company continuing to cover up their mistakes this led to the distress of the company, loss of investors, and a major damage to the reputation of accountants in the industry.
I thumb to believe that if I had been their accountant I would beat picked up on what was going on, based on my knowledge in accounting and with the company. The way this scandal vie out and all the people that were involved, me speaking out on this probably would have just been ignored and I would have been terminated. In my opinion the SEC should have exerted the investigative and enforcement power to stop this scandal before it got so huge. I feel to believe that I am an honest person and my witting would not...If you want to get a full essay, order it on our website: Ordercustompaper.com
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