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Finance & Accounting
Pages 3 (753 words)
Examples may be stolen company data, personal information, proprietary secrets, etc. State the article and source that you will be evaluating for the assignment. > Discuss the nature of the fraud and the impact to the company as a result of the fraudulent activity. > Discuss “management ”Its responsibility to the company stakeholders to protect and secure the company from fraudulent activity. > Discuss the corporate environment and culture that may have contributed to the fraud. > Discuss the impact to the company or brand as a result of the fraudulent activity. > Discuss the measures that could have prevented and/or detected this fraud. One of the biggest frauds that has ever
q=cache:gxCBEAYU1csJ:scholar.goo). Enron was a very prosperous and prominent firm that was an American energy company established in Houston, Texas. Enron was formed in 1985 by Kenneth Lay after he had acquired two other gas companies in his quest to become a conglomerate in the American history. Nonetheless, after Enron’s biggest scandal, shareholders lost around $11 billion as the company continued on the downward spiral. Enron finally filed for bankruptcy at its $63.4 billion in assets were completely diluted. Many of the stockholders got measly pennies back for the huge investments they had in the company. Enron was charged with “cooking the books” along with their associates Arthur-Anderson. In essence, the company was running a Ponzi scheme. A Ponzi scheme is a strategy used by creditors to attract new investors in the company and utilize their funds to pay of old debts. ...
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