Enron Corp.

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. The collapse of Enron, which held more than \$60 billion in assets, involved one of the biggest bankruptcy filings in…

The combination of more complex financial statements, more aggressive accounting techniques, greater concern for customer satisfaction, greater dependence on consulting fees, and smaller cost-effective sampling techniques created many problems for auditing firms. Arthur Andersen’s Houston office was billing Enron \$1 million per week…

…notably that involving energy trader Enron Corp. Prominent leaders on both sides of the political aisle claimed that Pitt had been lax in enforcing SEC rules and questioned whether, as a former securities lawyer who had performed work for virtually all of the country’s major accounting firms, he was too…

…accounting scandals, including the infamous Enron scandal, in the early 2000s. The Sarbanes-Oxley (SOX) Act was designed to reduce corporate fraud by strengthening financial auditing and public disclosure requirements for publicly traded companies and increasing penalties for certain white-collar crimes.

…the guilty plea entered by Enron Corp.’s chief financial officer, Andrew Fastow (2004), on charges of having manipulated off-balance-sheet transactions (in this case, of having concealed the company’s debt obligations by transferring them to offshore partnerships), which led to Enron’s collapse. In an associated case, Enron’s accounting firm, Arthur Andersen…