Enron Bankruptcy Case2

Enron Bankruptcy Case2 - • Shareholders lost $11 billion...

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By: Scott Flynn Enron Bankruptcy Case
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Background Energy Company Based in Houston, Texas Jeffrey Skilling, CEO Andrew Fastow, CFO
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The Scandal Accounting Loopholes Special Purpose Entities Poor Financial Reporting Misleading the Board Pressure of Arthur Andersen
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Consequences Chapter 11 on December 2, 2001
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Unformatted text preview: • Shareholders lost $11 billion in stock • Employees lost $2 billion in retirement assets • Largest Bankruptcy Case Prior to WorldCom Sarbanes-Oxley Act • Passed in 2002 • Allows for Transparent Financial Records • Idea is to prevent fraud and improper auditing...
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