The Enron Scandal Case Study FACTS OF THE CASE Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Enron's predecessor was the Northern Natural Gas Company, which was formed during 1932, in Omaha, Nebraska. It was reorganized during 1979 as the main subsidiary of a holding company, Inter-North which was a diversified energy and energy related products company. During 1985, it bought the smaller and less diversified Houston Natural Gas company
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show investors the downside of risk. I believe the main reason the stock increased so much is due to corruption of Arthur Andersen, an independent audit firm. On Wikipedia’s website there was a statement from Enron’s Power Committee and it appears they were placing blame on the Andersen firm. They were quoted as saying, "… evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron's financial statements, or its obligation
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Arthur Andersen LLP, based in Chicago, is a holding company and formerly one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's handling of the auditing of Enron, an energy
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КУРСОВА РАБОТА ЕНРОН 1. Групирайте причините за фалита на Енрон по подходящ начин 1.1. Амбицията и алчността на главните мениджъри и разширяване на дейността на компанията, която не може да си позволи от финансова гледна точка компанията се превръща в глобален топ доставчик в бизнеса с електроенергия, стомана и дървесина конгломератът купува телевизионно рекламно време и извършва застраховки срещу кредитни неустойки компанията, следвайки глобалната и виртуалната стратегия, увеличава
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information asymmetry so that the engines of our financial markets run efficiently and free from the flaws of the capitalist system. The role it plays as a fail-safe to prevent the house form crumbling down is as good a reason as it gets. But in this case it would seem as though, despite its best efforts auditing, ironically has itself been pulled into the very house it was meant to watch over. This shouldn’t come as a surprise because let us not forget auditors are also subject to the philosophies
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Ethical Standards Newby v. Enron Corp. , 2002 U.S. Dist. LEXIS 28397 (S.D. Tex. May 1, 2002) Newby v. Enron Corp. (In re Enron Cor... , 2003 U.S. Dist. LEXIS 1668, Fed. Sec. L. Rep. (CCH) P92404 (S.D. Tex. Jan. 28, 2003) United States v. Arthur Andersen LLP , 2002 U.S. Dist. LEXIS 26870 (S.D. Tex. May 24, 2002) 18 USCS § 1512 Discussion/Analysis (of Law and Facts) During a legal discovery which includes the procedures of Deposition, Interrogatories and Production of Documents there can be
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Enron Corporation was a company that provided services which related to energys, commodities and services based in Houston Texas. Enron employed approximately 22,000 staff. It was one of the world's leading electricity, natural gas, communications, pulp, and paper companies. Enron claimed revenues of nearly $101 billion in 2000 before it filed bankruptcy in late 2001. Enron was named "America's Most Innovative Company" for six years in a row by Fortune. In 2001, Enron was accused of accounting
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. The traits essential for a consulting organization – innovative, creative, dynamic, strategic. 2. On August 7, 200 Andersen Consulting has officially separated from Arthur Andersen. In return for its independence, Andersen Consulting had to change its name as the Andersen Consulting name was to expire December 31, 2000 the company had begun to search for a new name in advance of the arbitration decision. It was very complicated because the company had to quickly create a new name, effectively
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news of financial and accounting scandals at major Fortune 500 companies. Enron, a Texas based energy company, lied about profits and was accused of concealing debts so they did not show up in the company’s accounts (BBC News, 8/22/2002). Arthur Andersen, an accounting giant, member of the “Big Six”, and Enron’s corporate auditor, collapsed completely after being found guilty of deliberately destroying evidence of its relationship with Enron (BBC News, 8/22/2002). Tyco executives L. Dennis Kowlowski
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Management Planning Paper Universidad of Phoenix MGT/330 – Management: Theory, Practice, and Application Prof. Richard Valdés-González 17 de noviembre de 2008 Legal La firma Arthur Andersen dedicada a la auditoria de otras compañías (1999) reconoce la necesidad de acelerar el flujo de la información que tiene valor, desde los individuos a la organización y de vuelta a los individuos, de modo que ellos puedan usarla para crear valor para los clientes.
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