Enron Scandal term papers and essays

The Enron scandal was the October 2001 demise of the multi-billion dollar Houston, Texas, energy corporation which cost shareholders nearly $11 billion, led to the world's largest bankruptcy at the time, brought down accounting partner, Arthur Anderson, and prompted government legislators to enact tighter regulations on accounting procedures and audit reports, specifically resulting in the Sarbanes-Oxley Act.  Major Enron players in the scandal were founder, Kenneth Lay, CEO Andrew Skilling and CFO Andrew Fastow, all of whom received hefty prison sentences.  However, Kenneth Lay died in 2006 prior to sentence scheduling.  As a corporation, the accounting firm, Arthur Anderson, was found guilty of obstruction of justice for destroying evidence.  Though no individual received a sentence, 85,000 people lost their jobs and the firm has lost its reputation.  The discovery of Enron's illicit accounting practices began with an article by Bethany McLean that appeared in the March 5, 2001 issue of Fortune magazine.  When McLean's attention was drawn to Enron by an analyst, her research found that Enron was trading at 55 times its earnings.  She found large amounts of unreported debt and "erratic" accounting practices.  After a series of whistle-blowing articles, Enron's stock price began to fall, hastened by the August 2001 resignation of Skilling.  As word leaked out that Enron might be suffering from a cash shortage, Enron's credit rating was downgraded, a proposed buyout by Dynegy fell through, and Enron filed for bankruptcy on November 28, 2001 - the largest bankruptcy ever at the time, since Enron's assets were estimated at over $63 billion.

Most relevant essays on Enron Scandal

  • An analysis and comparison of the Watergate and the Enron scandals.
    # 90127 | 675 words | 2 sources | 2006 | US
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  • This paper discusses the Enron scandal and looks at the lack of morality involved.
    # 123234 | 3,750 words | 45 sources | APA | 2008 | US
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  • An overview of the Enron scandal and the resulting Sarbanes-Oxley Act.
    # 67797 | 1,679 words | 8 sources | MLA | 2006 | US
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  • This paper discusses the Enron scandal and its implications.
    # 126712 | 2,500 words | 21 sources | 2008 | US
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  • A look at how the Enron scandal impacted society.
    # 58000 | 3,105 words | 8 sources | MLA | 2005 | US
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