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Enron ten years on: lessons learned
November 28, 2011
On 3 December 2001, Enron declared bankruptcy and, echoing the attacks of 9/11, it was a commotion heard around the world. Enron – the darling of Wall Street and apparent symbol of endless prosperity – fell from grace. The company that was audited by the former Big Five firm, Arthur Andersen, had succumbed to the same greedy, self-wealth maximisation behaviour that was prevalent during the (US) Savings and Loan debacle of the 1980s and reminiscent of the patterns that led to the Crash of 1929...Read More
Source: Accountancy Magazine
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