Enron/ Arthur Anderson paper: This paper is on the history and fall of the Enron corporation due to the neglect of CEO Arthur Anderson
Date Submitted: 09/10/2006 05:28:40
Category: / History / European History
Length: 2 pages (440 words)
Category: / History / European History
Length: 2 pages (440 words)
On December 2, 2001 Enron Corporation filed for chapter 11 bankruptcy, which was the largest bankruptcy petition in U.S. history. It had cleared out shareholder investments that had once been valued at more than $60 billion. Many of Enron's employees had large amounts of Enron stock in the company's retirement savings plans. As a result, they saw the value of their retirement savings first expand dramatically and then fall even faster after the Enron scam started. The names …
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…and evidence they have left behind of false filing.
It seemed that executives at Arthur Anderson and Enron did not originally set out to have a positive impact on the accounting industry or any industry. They set out to make as much money for themselves as possible. These selfish acts led both companies into an eventual downfall in bankruptcy. The accounting industry reacted to this and introduced changes that would improve itself and the economy.
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