The Enron Collapse
Enron collapsed in the Autumn of 20001 amidst allegations of gross financial impropriety and mismanagement. Enron’s auditors: Arthur Anderson were also implicated in the scandal and also collapsed although their consulting arm, Accenture, continues to this day. Following the collapse the US government passed The Sarbannes Oxley legislation.
In order to approach the assignment you should first acquaint yourself with what went wrong at Enron AND Arthur Anderson. Remember we are looking for lessons learnt from an auditing perspective eg how can auditors prevent this ever happening again?
Here are some useful sources to get you started:
News Articles:
http://www.nytimes.com/2001/11/29/business/enron-s-collapse-the-overview-enron-collapses-as-suitor-cancels-plans-for-merger.html?pagewanted=2
http://news.bbc.co.uk/1/hi/business/1780075.stm
(excellent intros.)
http://www.businessweek.com/stories/2001-12-16/the-fall-of-enron
http://www.economist.com/node/940091
Journal articles:
http://www.journalofaccountancy.com/Issues/2002/Apr/TheRiseAndFallOfEnron.htm
(a general and easy to understand article)
file:///C:/Users/p0077514/Downloads/0f31752f23db439c08000000.pdf
(classic article by Delange and Arnold)
Benston, A. and Hartgraves, A. (2002) Enron: What happenened and what we can learn from it. Journal of Accounting and Public Policy, Summer, pp 105-127
Reports:
http://fpc.state.gov/documents/organization/8038.pdf
Enron and accounting:
http://www.economist.com/node/976011
Books:
Mclean, B. and McKlind, P. (2013) The Smartest Guys in the Room. NY: Penguin
(also a film of the same name)
Fox, L. (2003) Enron: Rise and Fall. NJ: Wiley
Clips:
https://www.youtube.com/watch?v=q6FmfdhyNig
(excellent lessons learnt video)
(excellent intro.)
(Anderson collapse)
https://www.youtube.com/watch?v=Bo1tSrXMHGQ
(a more thorough account)
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