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Case Study: Helping Corporate Board Members Stay Diligent (Post Enron)  [cached]
Renee Ann Pistone
International Journal of Business and Management , 2010, DOI: 10.5539/ijbm.v5n5p51
Abstract: The Enron financial scandal impacted Wall Street and Board rooms within multinational corporations. Board Members need guidance in order to prevent fraud and abuse. The attorney featured in the following hypothetical faces serious ethical dilemmas. This hypothetical is unique because it involves an attorney Board Member facing ethical problems within a large business organization, as opposed to a one-on-one attorney-client situation. Here, the attorney Board Member, has a significant financial stake in the outcome. Certain issues will be delved into and analyzed according to customarily accepted Ethical standards for Board Members. Later on, this article is supplemented by federal and state case law. Supplemental cases were specifically chosen to emphasize and relay certain key principles of black letter law. Also, this article offers Board Members some reasonable alternatives to follow in order to follow due diligence.
Analysis of Communication Pattern with Scammers in Enron Corpus  [PDF]
Dinesh Balaji Sashikanth
Computer Science , 2015,
Abstract: This paper is an exploratory analysis into fraud detection taking Enron email corpus as the case study. The paper posits conclusions like strict servitude and unquestionable faith among employees as breeding grounds for sham among higher executives. We also try to infer on the nature of communication between fraudulent employees and between non- fraudulent-fraudulent employees
Network Analysis with the Enron Email Corpus  [PDF]
Johanna Hardin,Ghassan Sarkis,P. C. Urc
Computer Science , 2014,
Abstract: We use the Enron email corpus to study relationships in a network by applying six different measures of centrality. Our results came out of an in-semester undergraduate research seminar. The Enron corpus is well suited to statistical analyses at all levels of undergraduate education. Through this note's focus on centrality, students can explore the dependence of statistical models on initial assumptions and the interplay between centrality measures and hierarchical ranking, and they can use completed studies as springboards for future research. The Enron corpus also presents opportunities for research into many other areas of analysis, including social networks, clustering, and natural language processing.
The Rise and Collapse of Enron: Financial Innovation, Errors and Lessons  [cached]
Elisa S. Moncarz,Raúl Moncarz,Alejandra Cabello,Benjamin Moncarz
Contaduría y administración , 2006,
Abstract: Recent collapses of high profile business failures like Enron, Worldcom, Parmlat, and Tyco has been a subject of great debate among regulators, investors, government and academics in the recent past. Enrons case was the greatest failure in the history of American capitalism and had a major impact on financial markets by ′causing significant losses to investors. Enron was a company ranked by Fortune as the most innovative company in the United States; it exemplified the transition from the production to the knowledge economy. Many lessons can we learn from its collapse. In this paper we present an analysis of the factors that contributed to Enron′s rise and failure, underlying the role that energy deregulation and manipulation of financial statements played on Enron′s demise. We summarize some lessons that can be learned in order to prevent another Enron and restore confidence in the financial markets, as well as in the accounting and auditing professions.
Enron of Saudi Arabia: Corporate Accounting and Auditing Failures  [PDF]
Ayman Mohamed Zerban
Open Journal of Accounting (OJAcct) , 2018, DOI: 10.4236/ojacct.2018.71001
Abstract:
Accounting and auditing failures are still a hot topic despite strong efforts for efficient corporate governance. The motives and attitudes behind decisions and events leading to Enron’s eventual downfall appear to be simple. It is individual and collective greed born in an atmosphere of market loose of regulation. The financial results of the company were too good to be true and no sound was heard to criticize the company albeit very few opinions. It was a network to deceive stakeholders. Saudi Arabia government has sought to change its oil-based economy into a modern diversified economy with a more trend towards privatization consistent with 2030 vision “a vibrant society, a thriving economy and an ambitious nation” and in this situation an effective, transparent, accountable, enabling and high-performing government and corporations are an essential pillar for success in order to advance economy including stock market. Corporate governance is intended to increase accountability of corporations and to avoid problems before they occur. An accounting scandal at one of Saudi Arabia’s largest telecommunications companies is posing pressure on regulators, as Saudi Arabia moves to open up the Arab world’s largest stock market to foreign investors. The Capital Market Regulator in Saudi Arabia banned Deloitte’s firm (Bakr Abulkhair & Co.) from auditing public companies as of June 1st, 2015, on account of its work for the targeted loss-making company MMG (Mohammad Al Mojil Group). Another scandal in Saudi Arabia is Etihad Etisalat, known as (Mobily), as company’s audit committee pointed in their perspective to accounting errors that decreased about $380 million in previous profits. The aim of this research is to explore what went wrong and the violations of corporate governance rules by highlighting corporate accounting and auditing scandals in MMG (Mohammad Al Mojil Group) and Etihad Etisalat, known as (Mobily). Although what happened at Enron is very well known worldwide, the corporate accounting and auditing failures in the case of Saudi Arabia is unprecedented territory of research.
The enron-andersen regulatory review to strengthen auditor independence
Dewi Fariha Abdullah @ Earnest
Jurnal Kemanusiaan , 2004,
Abstract: The crash o Enron in the US, followed by the worldwide collapse of its auditor, Arthur Andersen (Andersen), has shaken the business world. It was the biggest corporate collapse uncovered in business history. Since then, the investor and public's perception towards the accounting and auditing profession has been badly tarred. Following Enron-Andersen scandal, giant companies like world Com, Xerox and West Management faced similar fate. Worst still, the auditors of all these companies are among the Big Fives (now Big Fours). Nevertheless, the reputation of most certified public accountant (CPA) firms are seriously confronting the problems of regaining public's confidence at post-Enron era. Among the major issues elevated was 'auditor independence' of the CPA firms. Arguments rest on the issue of auditor independence and factors like regulatory framework, and business pressures (also corporate governance) that are found to be major contributor to crashes of Enron like. In response to the scandal, the standard-setters, regulators, professions and other related bodies (in the UK and the US) emerged with constructive proposals, which aim to strengthen auditor independence (and corporate accountability). Though, new regulatory have been laid out, the success rate is yet proven. This paper review holds the regulatory scenario depicted in the UK and the US. This is after considering that most of the recent bankrupt cases and regulatory reviews are actively performed in both countries.
Transparency in Corporate Governance: A Comparative Study of Enron, USA and Cadbury PLC, Nigeria
Muraina Abdullahi,Okpara Enyinna,Ahunanya Stella
The Social Sciences , 2013, DOI: 10.3923/sscience.2010.471.476
Abstract: This study examined the topical issue of corporate governance in the area of transparency in the preparation and presentation of financial statements to various stakeholders and the public at large. This is against frightening revelations that the financial statements of many corporate entities were mere cosmetics and far from showing a true and fair view of the real state of things. In particular, this study took a close look at the financial misrepresentation of Cadbury Nigeria and Enron United States of America. Cadbury Nigeria was discovered in 2006 to have overstated its accounts to the tune of 13 billion naira (85 million dollars). This resulted in the sacking of the Managing Director and the Finance Director of the company. The auditors of the company Akintola Williams Delliotte was also fined to the tune of 130,000$. Enron s case was that its purported growth from 10 billion dollars in the early 1990s to 101 billion dollars in 2002 was discovered to be mere cosmetics. Financial statements were tampered with to create a false or deceptive impression leading to its collapse and litigations against the key officers. The effect of lack of transparency in the corporate governance of both organizations was discussed in this study. Using a comparative analysis of their financial statements before the fraud was uncovered, the similarities and differences were highlighted with lessons for developing economies on how to ensure transparency in their corporate governance.
Analyzing the ENRON Communication Network Using Agent-Based Simulation  [cached]
Shinako Matsuyama,Takao Terano
Journal of Networks , 2008, DOI: 10.4304/jnw.3.7.26-33
Abstract: Agent-based modeling, simulation, and network analysis approaches are one of the emergent techniques among soft computing literature. This paper presents an agent-based model for analyzing the characteristics of peer-to-peer human communication networks. We focus on the process of the collapse of Enron Corporation, which is an interesting topic among the business management domain. The Enron email dataset is available for the analysis. Our approach consists of the four steps: First, macro-level characteristics of the Enron email dataset is analyzed from the viewpoints of social network theory: (i) the degrees of the communication networks and contents information, and (ii) the changes of network structures among the major events. Second, for the micro-level analysis, an agent-based simulator is implemented using the Enron email dataset. Third, both micro- and macro- level characteristics are calculated on the simulator to ground the model to the dataset. Finally, a different artificial society from the Enron email dataset is developed the simulator and we compare its characteristics of communication patterns with the result of the ones in the agent-based simulation with the Enron email dataset. The investigation suggests that the agent-based model is beneficial to uncover the characteristics of implicit communication mechanisms of the firm.
ETHICS IN ACCOUNTING: THE WORLDCOM INC. SCANDAL
Lucian Cernu ca
Lex et Scientia , 2007,
Abstract: What is ethics? What do ethics have to do with accounting? How does a scandal affect the business environment and the society? This article will explain just those questions by analyzing a “famous” fraud scandal: WorldCom Inc. The article discusses the chronology of events that lead to the WorldCom Inc. collapse and explains how the figures were manipulated for the owners’ interest and what the accounting scam was. The article ends with the consequences of the scandal and what the effects were on the society and business environment in general.
Enron versus EUSES: A Comparison of Two Spreadsheet Corpora  [PDF]
Bas Jansen
Computer Science , 2015,
Abstract: Spreadsheets are widely used within companies and often form the basis for business decisions. Numerous cases are known where incorrect information in spreadsheets has lead to incorrect decisions. Such cases underline the relevance of research on the professional use of spreadsheets. Recently a new dataset became available for research, containing over 15.000 business spreadsheets that were extracted from the Enron E-mail Archive. With this dataset, we 1) aim to obtain a thorough understanding of the characteristics of spreadsheets used within companies, and 2) compare the characteristics of the Enron spreadsheets with the EUSES corpus which is the existing state of the art set of spreadsheets that is frequently used in spreadsheet studies. Our analysis shows that 1) the majority of spreadsheets are not large in terms of worksheets and formulas, do not have a high degree of coupling, and their formulas are relatively simple; 2) the spreadsheets from the EUSES corpus are, with respect to the measured characteristics, quite similar to the Enron spreadsheets.
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