1. Enron and the Sarbanes Oxley Act
By time the executives got caught, the debt had caused the company to file bankruptcy, and thousands of Enron employees lost their jobs and all of their retirement savings (Jickling). ... Enron created Special Purpose Entities (SPE's), otherwise known as off-book partnerships, and the executives used these partnerships to hide their large amounts of debt as well as record profits by taking out large loans in the SPE's name to purchase assets and conduct business without ever reporting the liability of debt on their balance sheet (Buckstein). ... Sarbanes Oxley had dramatic and galvan...
- Word Count: 3410
- Approx Pages: 14
- Has Bibliography
- Grade Level: Graduate