1. Enron and the Sarbanes Oxley Act
... as well as record profits by taking out large loans in the SPE's name to purchase assets and conduct business without ever reporting the liability of debt on their balance sheet (Buckstein). Investigations found that Enron had around 3,000 different SPE's that they used and were never included in their financial statements. The company would also sell their bad (not profiting ... or old) assets to the SPE's to get them off their balance sheet and record a gain and then would turn around and hide all their losses under the SPE's name instead of their own (Buckstein). Little tricks like t...
- Word Count: 3410
- Approx Pages: 14
- Has Bibliography
- Grade Level: Graduate