Case Scenario:
Hi, I am doing research on the company Enron Corporation that want bankrupt back in 2001. I have compiled a few questions of my own that will help me develop information to compose my paper. I am not that familiar with the company and the whole overall scandal that they had going on, so I came here to look for help. I would love your input and assistance.
Topic: Enron: Questionable Accounting Practices Bring New Regulation to the United States
Question 1. Elaborate in a paragraph how the key facts and critical issues are presented in the Enron case.
Question 2. Why do I think companies such as Enron use complex accounting schemes and loopholes in regulation to seemingly boost the company's revenue?
Question 3. Do I think that Sarbanes-Oxley Act of 2002 was the right reaction to the accounting scandals associated with Enron and Worldcom and in light of 2008-2009 accounting scandals, has it been effective in preventing accounting misconduct?
Question 4. If I were the CEO of a Fortune 500 company, how could I ensure that my accounting system is in compliance with regulations and best practices within the industry?