Search results
The Enron scandal was a series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation in 2001 and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
Jun 14, 2024 · The company is best known for being embroiled in one of the largest accounting scandals in the country, which came on the heels of the Enron and Tyco frauds. This came after it was revealed the...
Enron's $63.4 billion in assets made it the largest corporate bankruptcy in U.S. history until the WorldCom scandal the following year. [3] Many executives at Enron were indicted for a variety of charges and some were later sentenced to prison, including former CEO Jeffrey Skilling.
Jun 3, 2024 · Enron used special-purpose vehicles to hide its debt and toxic assets from investors and creditors. The price of Enron’s shares went from $90.75 at its peak to $0.26 at bankruptcy.
Oct 15, 2003 · Oversight mechanisms already in place failed to prevent recent scandals involving the likes of WorldCom, Waste Management, Sunbeam, and, of course, Enron, she said, asking rhetorically: “If the system is not, in fact working, what are its weaknesses?”
Aug 3, 2021 · Accountancy firm Arthur Andersen saw its reputation destroyed by the Enron scandal. In the UK, there was little or no reform in response to Enron. And according to Labour peer Prem Sikka,...
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time.
