ENRON. Case Questions. 1. What were the business risks Enron faced, and how did those...
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Accounting
ENRON. Case Questions.
1. What were the business risks Enron faced, and how did those risks increase the likelihood of material misstatements in Enrons financial statements?
2. What are the responsibilities of a companys board of Directors? Could the board of directors at Enron especially the audit committeehave prevented the fall of Enron?
Should they have known about the risks and apparent lack of independence with SPEs? What should they have done about it?
3. In your own words, summarize how Enron used SPEs to hide large amounts of company debt.
4. Explain how mark-to-market accounting works in the case of Enron.
5. What was the role of the stock analyst in the Enron Scandal?
6. What reforms were implemented after the Enron Fraud?
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