Enron
Essays

In this paper we are going to be looking at the Enron fraud and accounting scandal. This will be accomplished by focusing on: the firm itself, the effects it had on the legal system, the lasting impact on stakeholders and conducting an analysis of the situation. These elements will highlight the underlying causes and how the different challenges can be prevented in the future.

Ethics dilemma and The Enron case: Our MBA is not really aware of what is going on; all he has is assumptions, guesses. He has no actual proof. In the first case, he has had suspicions of several transactions – their accounting practices seem suspect - and he has pointed out his concerns to the CFO. He has then been assured that all is fine and that they know what they are doing. In the garden, you hear the CFO speaking with some high-ranking person from Arthur Andersen. They speak about the practice of inflating Enron earnings and transferring debt to partners. The discussion has something to do with the sustainability of the practice and the possible consequences of discovery. Then you hear someone say that "It's really too late. We either make it work or the jig is up, and we try to contain the damage. In either case we all know what we should do with our stock." Since all of this is hearsay, however, and indirect, all you have to go on is, ultimately, conjecture. You may be correct in suspecting something but you do not have absolute proof.

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