4.1 Enron Corporation and Anderson‚ LLP ----Analyzing the fall of two Giants This case results in the publishing of Sarbanes-Oxley Act of 2002 and relevant to the Securities and Exchange Commission. Also‚ it is related to SAS 103: Auditing‚ Quality Control‚ and Independence Standards and Rules. [1] What were the business risk Enron faced‚ and how did those risks increase the likelihood if material misstatements in Enron’s financial statements? The business risks Enron faced are as following:
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The film Enron: The Smartest Guys in the Room (2005) demonstrates that Enron‚ as a company‚ was managed through patriarchal and authoritarian principles that facilitated‚ and even encouraged‚ illegal activity. Enron was a well-respected company that received accolades in the press and was named Fortune Magazine’s most admired company for several years; this created
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different explanations are offered for the collapse of Enron‚ the nation ’s seventh largest corporation‚ yet it ’s leadership was an obvious factor that contributed to Enron ’s demise. It will be completely erroneous‚ however‚ to think that the leaders of Enron were anything but superb. From 1997-2001‚ the leaders of this company transformed Enron into a "corporation of the new millennium" and a favorite of investors and analysts. Most leaders of Enron like Chairman Kenneth Lay‚ Chief Executive Officer
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reporting it to persons who use it. The financial statements : The final product of financial accounting is in the form of financial statements that are packaged with other information in a financial report. •Financial statements are prepared at the end of each accounting period. A period maybe one month‚ one quarter‚ or one year. •Financial statements report summary amounts‚ or totals. There are three main financial statements: –The balance sheet: containing Assets and source of Assets at a specific
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1. Write a short history of the Delhi Sultanate in India from its founding to the end of the Khalji domination. The foundation of Arab power in India proper were laid by the ruler of Ghazni in Central Asia‚ Sultan Mahmud (997 CE)‚ who invaded and conquered the Punjab between 1001 and 1014. The empire of Ghazni began to fall to pieces under the later successors of Sultan Mahmud of Ghazni. Muhammed of Ghur‚ who became the governor of the province of Ghazni in 1173. Muhammed began his Indian campaign
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The Enron Case Questions: 1. Do you believe that there has been a significant shift or evolution over the past several decades in the concept of “professionalism” as it related to the public accounting profession? If so‚ explain how you believe that the concept has changed or evolved over that time frame and identify the key factors responsible for any apparent changes. a. Do you believe that there has been a significant shift or evaluation over the past several decades in the concept
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On March 5‚ 1770 the Boston Massacre occurred. A mob of colonists had assembled at the Custom House. Many of them began shouting and throwing things at the soldiers. The soldiers began to fire on the colonists without the order from Captain Preston‚ and five of the colonists were shot and killed. There was a trial several months later‚ where Captain Preston was legally represented by John Adams. Captain Preston was acquitted. Six of the eight soldiers under trial were acquitted. Two soldiers were
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The collapse of Enron is perhaps one of this century’s biggest and memorable scandals of this century so far. Created in 1985 through the merger of two natural gas companies‚ the Houston-based company was considered one of the most successful and powerful companies throughout the 90s. In 2001‚ Enron’s world came crashing down as the company was forced to reveal that it had defrauded people out of millions of dollars. Those hurt mostly by the collapse of Enron were the workers‚ whose loyalty and hard
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The first thing that stood out to me in this section of Scratch Beginnings is how well Adam bargained for his car purchase. The way he is careful and smart about his car buying shows how much his street smarts have developed. Adam’s first choice for a car‚ a silver pickup truck‚ was priced $100 below his goal price. He soon found out why after a test drive that he talked his way into getting. Being patient in this instance saved Adam the headache and regret he would have likely had if he were to
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| 5-6 | 2 | Enron – An overview | 7-10 | 3 | Journey from Enron corporationTo Enron creditors recovery corporation | 10-14 | 4 | Enron’s injured parties | 14 | 5 | Lessons to be learnt | 15-16 | 6 | Satyam – An overview | 17-21 | 7 | The Satyam Scandal | 21-27 | 8 | Satyam Scam Parties Responsible | 27-32 | 9 | Aftermath of the scam | 32-34 | 10 | People affected from it | 35-37 |
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