Enron Corporation was involved in a major monetary scandal in which it had created byshore accounts so as to quash payment of taxes and hence appear more profitable to investors than it truly was. The company had made sure that losses were kept off the accounting books, which in turn lured people to invest even out more into the company.
The size of the company and the great amount of governmental support the company enjoyed gave it great access to opportunities that other companies did not enjoy. The company was seen to be actively involved in semipolitical issues by having a great number of politicians involved in the company in different ways, an option that was not overlap by many of its competitors. The companys former employees were engaged in government offices so as to maintain impede ties with the government. Their Corporate social responsibility last report was panoptic of narrations and did not focus on the much needed actions (Loren, 2004). .
The arna of Enrons stakeholders ranged from: the companys shape up of directors, the white house, commerce College, American capitalism to even, Aurther Andersen, the accounting firm that kept Enrons financial books. All these were either directly or indirectly involved in luring investors into the company. According to Loren (2004), Enron is known to have funded the pick campaign of former prexy Bush and his vice president Dick Cheney.
Arthur Andersen was taken to court for hiding the truth rough Enrons auditing documents and its licenses and rights to practice were withdrawn. Most of the companys board members were taken to court and charged with fraud. Up to today, many cases are still in court pending hearing.If you want to bulge out a full essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper
No comments:
Post a Comment