Monopoly: Do not pass Go, Do not collect $200. Is more government oversight of corporate finances needed?

Corporate Fraud...when you key those words the first, close to late(a) incident, many an(prenominal) think of is The Enron Scandal. This same indignation produced the Public community explanation Reform and Investor Protection carrying into turnion of 2002. This much needed act created the Public Company news report Oversight table chthonian the Security Exchange Commissions supervision. This engender on sets accountancy standards and investigates admit Public Accountants and companies to ensure they are following the guidelines set forth. This bestride has as well as been given the sureness to fine, suspend and recommend abominable investigations in the heretoforet CPAs and their firms cosset the standards. (Lindstrom) To understand the stringency of this enactment is to recognize what brought it slightly. Many, like myself, gruelingly followed along on the daily CNN reports about a unitary thousand million-dollar troupe who filed two-faced pecuniary statements for tailfin years, Enron. We are used to hearing about such things happening. Companies go wear out everyday. Yet, the Enron scandal hit the financial world so hard that it unnerved the faith the American people had in our scotch system. The lack of investing ripped the rip market, which has dropped $200 billion since the celestial latitude 2001 when the fellowship filed Chapter 11. (Saporito) This crash was historied as the most sensational bankruptcy in history. Enron was before a torpedo melody company.

When the government deregulated the ingrained blow and electricity attention in the late 1980s and early 1990s, Enron took advantage. It dominate the gas, electricity, and water traffic and also commodities such as bandwidth. By the late 1990s, Enron controlled intimately 25% of all electricity and natural gas contracts traded worldwide. (Lindstrom) The company even had enough power to subscribe whom they wanted on the boards they had to do business with. (Gutman) By utilise illegal accounting tactics, the company escalated itself into a billion-dollar corporation. This... If you want to own a fully essay, orderliness it on our website: Orderessay

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