Financial Statement Fraud.Enron.AICPA

Justified 2003 2005 by the aicpa aggressive nature of

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Unformatted text preview: ing billion to $12 billion and derivates-related liabilities increased from $1.8 billion to $10.5 billion $1.8 Enron’s top management gave its managers a blank order to “just Enron’s do it” do Deals in unrelated areas such as weather derivatives, water Deals services, metals trading, broadband supply and power plant were all justified. justified. © 2003, 2005 by the AICPA Aggressive Nature of Enron Aggressive Because Enron believed it was leading a revolution, it pushed the rules. Employees attempted to crush not just outsiders but each other. Competition was fierce among Enron traders, to the extent that they were afraid to go to the bathroom and leave their computer screen unattended and available for perusal by other traders. for © 2003, 2005 by the AICPA Enron’s Arrogance Enron’s Enron’s banner in lobby: Changed from Enron’s “The World’s Leading Energy Company” to “THE WORLD’S LEADING COMPANY” to © 2003, 2005 by the AICPA 2001 - Notable Events 2001 Jeff Skilling left...
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