After class on Thursday I did some extra reading up on Enron. It is pretty amazing that in this day people can get away with “creative accounting” and effectively take down such a well established, 6 time winner of most innovative company by Fortune. The Sarbanes Oxley initiative was actually in the process of becoming legislation before the Enron scandal interestingly enough. The Sarbanes Oxley legislation article that I read outline (which is attached!) outlines that SOX is anything but an instant fix. The hope will be that in the future there will be fewer accounting issues and there will be responsibility taken for actions of organizations.
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