Accounting Scandals

Paper Summary:

This paper provides an overview of the events leading up to the Enron and WorldCom accounting scandals. It examines the course of these two affairs and the subsequent results. The paper discusses the Sarbanes-Oxley Act which is considered the most significant change to federal security laws in the United States since the New Deal.

From the Paper:

"On August 27, 2003, the State of Oklahoma filed a 15-count indictment against Ebbers. The indictment charged that he violated the state's securities laws by defrauding investors on multiple occasions between January 2001 and March 2002. These charges were dropped, with the right to refile retained, on November 20, 2003. An agreement to extend the statute of limitations on these charges, allowing Oklahoma prosecutors time to see the results of federal sentencing, was signed on March 30, 2005. Federal authorities indicted Ebbers with security fraud and conspiracy charges on March 2, 2004. An amendment to the indictment on May 25, 2004 increased the list of charges to nine felonies: one count each of conspiracy and securities fraud, and seven counts of filing false statements with securities regulators."

More papers on Accounting Scandals :

• Essay # 61841 : "Accounting Scandals"
• Term Paper # 120593 : "Sarbanes-Oxley Act and Accounting Scandals"
• Analytical Essay # 117366 : "Accounting Scandals"

APA Citation:

MLA Citation: