1. Enron and the Sarbanes Oxley Act
... (Jickling). Enron created Special Purpose Entities (SPE's), otherwise known as off-book partnerships, and the executives used these partnerships to hide their large amounts of debt 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 ... to no financial literacy and therefore had no idea what the financial reports were really saying and didn't know what to look for. The last important change SOX imposed...
- Word Count: 3410
- Approx Pages: 14
- Has Bibliography
- Grade Level: Graduate