1. Enron and the Sarbanes Oxley Act
One of the largest and most influential of these laws set in place to prevent falsified financial reporting and protect the public is the Sarbanes Oxley Act (SOX), which was implemented immediately after the Enron corporate scandal in 2001. ... In December of 2001, Enron filed bankruptcy with $62 billion in assets; just one month after their auditor gave the company a clean report (meaning their financial statements looked good) (Buckstein). ... Enron created Special Purpose Entities (SPE's), otherwise known as off-book partnerships, and the executives used these partnerships to hide thei...
- Word Count: 3410
- Approx Pages: 14
- Has Bibliography
- Grade Level: Graduate