Enron

7 Pages 1757 Words

ned with InterNorth, soon became one of the most fast growing and influential companies of their time. After taking advantage of complex accounting techniques, Enron was looking like a much more powerful company than they really were. It all seemed to be too good to be true, and it was. After some of their deals went bad they didn’t have the money to cover their debts and had to file for bankruptcy. This exposed all of Enron’s long history of lying and cheating. Many different aspects of their business led to one of the biggest financial scandals to take place in the United States. Then Enron scandal led to fallout and changes in almost every aspect of business in the world today. Thousands of employees lost their jobs and retirement funds. The accounting profession may be changed forever after Enron exposed some of their weaknesses. There is already much talk about new rules and standards in the accounting profession. Many huge companies have already started to make changes and provide more information in their accounting documents. Retirement plans will also be a good candidate for ...