collapse of Enron had substantial and far-reaching ramifications throughout the financial investment field‚ tax compliance professions and the accounting profession. Intense Congressional scrutiny resulted in a new era of transparency in financial reporting‚ stricter reporting standards as provided in Sarbanes-Oxley and substantial penalties for failure to comply with new financial reporting and tax compliance standards in the Internal Revenue Code (Bottiglieri et. al.‚ 2009) Enron Assignment
Premium Enron
How could the ENRON scandal been avoided? The Enron scandal could have been avoided had they had an organizational culture of honesty‚ integrity and ethics 1. There should have been stronger management and better ethical oversight. Even employees should have had a sense of the expected ethical values and try to maintain a strong sense of organizational culture. 2. There should have been measures in place to oversee the activities of accounting firms (Arthur Andersen)‚ as they acted as both Enron’s
Premium Enron Enron scandal Arthur Andersen
Enron: The Fall from Grace/ The World’s Biggest Fraud Outline A. Enron’s History B. Overview of Enron’s Operations 1. Wholesale Services 2. Energy Services 3. Global Services C. Enron’s Timeline D. Enron’s Role in The Energy Crisis in California E. The Fall of Enron F. Why Enron Fell from Grace? G. The Crash of Enron 1. Key Management at Enron 2. Enron’s Auditor 3. Credit Rating Agencies 4. Investment Banks 5. Links with The Government (Bush Administration) 6. The Link of Enron with The British
Premium Enron
ENRON Principles of Accounting Enron Key Players KENNETH LAY Former Enron chairman JEFFREY SKILLING Former Enron CEO DAVID DUNCAN Former Andersen partner NANCY TEMPLE Andersen lawyer THOMAS WHITE Secretary of the Army SHERRON WATKINS Enron vice president Enron started about 29 years ago in July 1985 in Houston‚ Texas.. A energy economist named Kenneth Lay became the CEO of Enron. Mr. Lay was a very optimistic
Premium Enron Kenneth Lay Fraud
Committing Adultery A marriage is full of moral ethics that should be followed. Kant would have agreed with me that we have moral duties to ones self and others. A marriage is committing moral thoughts‚ words‚ and actions to yourself and your spouse. Kant believed in treating other people the way you wish they would treat you. Never treat other people as if they were merely things. The formula of humanity states that we should treat people as an end and never as a means to an end. In committing
Premium Utilitarianism Ethics Morality
Angela Cusumano November 28‚ 2010 Portfolio Review Committee University of Illinois at Chicago 601 South Morgan Street Chicago‚ Illinois 60607 Dear Portfolio Review Committee‚ My first semester here at UIC I was obligated to take English 160. I can honestly say I thought I would be easily passing this course. I was used to the 5 paragraph essay in high school and assumed that things would be the same in college. After writing my first project for English 160 I felt invincible until I
Premium Writing High school Essay
Under the common law‚ accountants may be found liable to the clients who hire them under several legal theories‚ including breach of contract‚ fraud‚ and negligence. Accountants owe a duty to use reasonable care‚ knowledge‚ skill‚ and judgment when providing auditing and other accounting services to a client. In other words‚ an accountant’s actions are measured against those of a “reasonable accountant” in similar circumstances. The development of GAAPs‚ GAASs‚ and other uniform accounting standards
Premium Generally Accepted Accounting Principles Financial statements Enron
Memo To: Mr. Dwight Collier‚ General Manager – Executive Shirt Company‚ Inc. From: CC: Date: September 10‚ 2013 Re: Custom Shirt Production Planning Introduction Mr. Collier‚ per your request‚ I have analyzed Executive Shirt Company’s current production process in addition to evaluating both Mike and Ike’s recommended processes for custom shirt production. Elements considered during this analysis included: Process types‚ cycle time for the processes‚ process efficiencies‚ and costs.
Premium Shirt Capacity utilization Management
The Illusion That Took the World by Surprise Enron: The Smartest Guys In the Room is a movie about Enron and how it fooled the world into believing it was one of the most stable and profitable companies in the U.S. This is very sad because many people believed in the figures Enron was producing and entrusted their life saving in Enron stock. The scandal didn’t just affect a small group of people but 10’s of thousands of people lost everything‚ due to an illusion. Kenneth Lay earning a Ph
Premium Enron
Enron and How it Affected the Accounting Industry Enron once was one the United States largest energy company and was ranked Fortune’s seventh richest corporation in the United States. When Enron had a filed for Chapter 11 bankruptcy in 2001 it unraveled to be one the biggest accounting scandals in United States history. There are many factors that contributed to Enron’s demise but their aggressive and unethical accounting practices were the key component. As a result‚ the accounting industry
Premium Enron