07 Jul The purpose of this homework assignment is to allow you to research the Enron fraud case and the compliance requirements of the Sarbanes-Oxley Act
in General Questions
The purpose of this homework assignment is to allow you to research the Enron fraud case and the compliance requirements of the Sarbanes-Oxley Act. You are to complete the following components:
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- Provide researched information and references documenting your findings. Identify elements of fraud and compliance laws that have been drafted as a result of Enron and other industries.
- Write an executive summary describing the Enron fraud case’s impact and the U.S. government’s reaction to it.
- Complete each section of the lab by following the instructions for the exercises in each section.
You will use a text document to develop your homework assignment by completing the sections listed below:
From your computer workstation, create a new document called SOX Lab 1. Once you have created the document, complete the following exercises, and save your responses as the SOX homework assignment #1.
- On your local computer, create the lab deliverable files.
- Review the following information about the Enron Corporation:
- Enron Corporation was an energy company that, at one point, was the seventh largest company in the United States and the largest trader of natural gas and electricity in the country. Enron started in the mid ‘80s and, by the ‘90s, the company was involved with trading and ownership in electric, coal, steel, paper, water, and broadband capacity. In 2001, Enron filed for bankruptcy, making it the largest bankruptcy in history at the time. An accounting scandal caused the company’s collapse. Thousands of Enron’s employees were laid off. Employees lost their life savings because of the loss of the company’s stock. Shareholders lost $11 billion.
- early history of the investigation,
- misleading financial accounts,
- accounting scandal of 2001, and
- California’s deregulation and subsequent energy crisis.
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