Ethics in Accounting and Financial Decision Making Free Essay, Term Paper and Book Report
Ethics in Accounting and Financial Decision Making
The article I have reviewed pertains to the ethical and financial disaster of the Enron Corporation. According to Fox (2003), Enron was a corporation which employed approximately 21,000 people and was one of the worlds leading communications, natural gas and electricity companies. The company was named Fortune Magazines most innovative company, and collected roughly $101 billion in profits in 2000.In 2001 Enron was accused of accounting fraud. In 2006 Kenneth Lay who was Enrons CEO and Richard Causey, chief accounting officer of the company went on trail to answer to allegations of bank fraud, security fraud, wire fraud, money laundering, insider trading and making false statements to banks and auditors. Lay pleaded innocent to the eleven criminal charges he was accused of and the U.S. Securities and Exchange Commission is seeking more then $million dollars in reparations from him. Causey has been sentenced to 7 years in prison with up to $1.25 million owed back to the federal government.
This article relates to the re......
Word Count: 680
Page Count: 2.7 (250 words a page / double spaced)
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