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Essay / Research Paper Abstract
This is an 8 page paper that provides an overview of the Enron bankruptcy. The role of auditing in that disaster is emphasized. Bibliography lists 5 sources.
Page Count:
8 pages (~225 words per page)
File: KW60_KFenron4.doc
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Unformatted sample text from the term paper:
that inaccurate or dishonest auditing practices played in that collapse. Key figures who have some high degree of culpability are identified, both within Enrons executive structure and without. Ultimately, the
claim is made that independent auditing is a critically essential standard to cultivate to avoid such disasters in the future. Paper The bankruptcy of Enron was one
of the most significant events in the evolution of the global economy in the 21st century. Valued as one of the most lucrative companies on the market by an inordinate
number of typically reliable analysts and investment advisors, Enron surprised everyone when, at the height of its on-paper success, the company declared a restatement of earnings that effectively translated to
a bankruptcy situation for everyone involved. This was a catastrophic blow not just for the thousands of employees who were left jobless, holding now-worthless stock options, but also for the
millions of investors who bought shares of Enron on the advice of analysts. Enrons positioning within the energy sector also meant that the collapse of the organization would have a
critical impact on the national economy as a whole, affecting telecommunications accessibility and profitability. A deeper investigation reveals massive discrepancies between Enrons accounting statements and the fiscal reality of the
institutions assets and obligations. One might view the major financial disaster then, in an educational light: if one can learn anything from the Enron disaster, its that legitimate external auditing
is fundamental to the successful administration of a business. This paper will explore the Enron bankruptcy from a variety of perspectives, citing causal factors as well as the most major
repercussions. This paragraph helps the student provide a summary history of Enron, leading up to its bankruptcy. Enron, as an entity, was first established in 1985 as the result
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