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The Enron scandal was defined as being one of the biggest audit failures of all time. The scandal included utilizing loopholes that were found within the GAAP (General Accepted Accounting Principles). For auditing a large-sized company such as Enron, the auditors were criticized for having brief meetings a few times a year that covered large ...
A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved some type of false or inappropriate accounting (see list at accounting scandals).
Enron logo. The Enron scandal was an accounting scandal sparked by American energy company Enron Corporation filing for bankruptcy after news of widespread internal fraud became public in October 2001, which led to the dissolution of its accounting firm, Arthur Andersen, previously one of the five largest in the world.
The story: Named "America's Most Innovative Company" six years in a row by Fortune magazine, Enron was a major energy player with revenues of $101 billion in 2000. In reality, much of that revenue ...
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Accounting scandals (1 C, 74 P) C. Corporate scandals by country (3 C) E. ... 2003 mutual fund scandal; 2009 Peanut Corporation of America recall; 2015 FIFA ...
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