Topic: Enron: Questionable Accounting Practices Bring New Regulation to the United States
Question 1. Elaborate in a paragraph how the key facts and critical issues are presented in the Enron case.
Question 2. Why do I think companies such as Enron use complex accounting schemes and loopholes in regulation to seemingly boost the company's revenue?
Question 3. Do I think that Sarbanes-Oxley Act of 2002 was the right reaction to the accounting scandals associated with Enron and Worldcom and in light of 2008-2009 accounting scandals, has it been effective in preventing accounting misconduct?
Question 4. If I were the CEO of a Fortune 500 company, how could I ensure that my accounting system is in compliance with regulations and best practices within the industry?