what is this enron scandal all about?
It was an accounting scandal of Enron Corporation.
Enron scandal
The Enron scandal was an accounting scandal of Enron Corporation, an American energy company based in Houston, Texas
which of the following is true regarding revelations involving enron and worldcom UNANSWERABLE
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Enron scandal [SEP] Introduction
The Enron scandal was an accounting scandal of Enron Corporation, an American energy company based in Houston, Texas. It was publicized in October 2001, and led to the bankruptcy of the company, and the "de facto" dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was cited as the biggest audit failure. Enron was formed in 1985 by Kenneth Lay after merging Houston Natural Gas and InterNorth. Several years later, when Jeffrey Skilling was hired, he developed a staff of executives that – by the use of accounting loopholes, special purpose entities, and poor financial reporting – were able to hide billions of dollars in debt from failed deals and projects.