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Accounting Reform After Enron
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Download or read book Accounting Reform After Enron written by and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sudden collapse of Enron Corporation in late 2001, amid revelations that its public accounting statements had been manipulated and falsified to conceal the company's true financial position, was the first in a series of major accounting scandals involving American corporations. The response of the 107th Congress was to pass the Sarbanes-Oxley Act (P.L. 107-204), sometimes described as the most sweeping amendments to the securities laws since the 1930s. (For a summary of Sarbanes-Oxley, see CRS Report RL31879.) The 108th Congress is unlikely to consider legislation as far-reaching as SarbanesOxley, but several issues related to accounting reform remain. These include questions of accounting for stock options and financial derivatives contracts, the possibility of replacing our current rules-based accounting system with a principles-based system, and oversight of the implementation of the accounting reforms mandated by the SarbanesOxley Act. This report will be updated as events warrant.
Book Synopsis A Financial History of Modern U.S. Corporate Scandals by : Jerry W Markham
Download or read book A Financial History of Modern U.S. Corporate Scandals written by Jerry W Markham and published by Routledge. This book was released on 2015-01-28 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive new reference on the major failures of American corporate governance at the start of the 21st century. Tracing the market boom and bust that preceded Enron's collapse, as well as the aftermath of that failure, the book chronicles the meltdown in the telecom sector that gave rise to accounting scandals globally. Featuring expert analysis of the Sarbanes-Oxley legislation that was adopted in response to these scandals, the author also investigates the remarkable market recovery that followed the scandals. An exhaustive guide to the collapse of the Enron Corporation and other financial scandals that erupted in the wake of the market downturn of 2000, this book is an essential resource for students, teachers and professionals in corporate governance, finance, and law.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :742 pages Book Rating :4.F/5 ( download)
Book Synopsis Accounting Reform and Investor Protection: Reports, bills, and the Sarbanes-Oxley Act of 2002 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Accounting Reform and Investor Protection: Reports, bills, and the Sarbanes-Oxley Act of 2002 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2003 with total page 742 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Following the Money by : George Benston
Download or read book Following the Money written by George Benston and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and American Enterprise Institute publication A few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom—as well as the discovery of accounting irregularities at other large U.S. companies—seemed to call into question the efficacy of the entire system of corporate governance in the United States. In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms—watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding—tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well. Will these reforms be enough? Are some counterproductive? Are other shortcomings in the disclosure system still in need of correction? These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive. Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.
Book Synopsis After Enron by : William A. Niskanen
Download or read book After Enron written by William A. Niskanen and published by Rowman & Littlefield. This book was released on 2007 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: After Enron addresses the major lessons about accounting, auditing, taxation, and corporate governance that are illustrated by the collapse of Enron and other recent major corporate scandals. The book then develops a set of proposals for changes in public policy that would lead accountants, bankers, board members, lawyers, and corporate managers to better serve the interests of the general public.
Book Synopsis Auditing and Its Regulators by : Bob Lyke
Download or read book Auditing and Its Regulators written by Bob Lyke and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditors are regulated by both governmental agencies and professional organizations, though many now question whether this oversight is adequate. Enron’s auditor, Arthur Andersen, has been investigated by the U.S. Securities and Exchange Commission (SEC), several congressional committees, and other agencies, and it is facing numerous law suits. A federal jury convicted the firm on obstruction of justice charges on June 15, 2002. Other corporations and their auditors are also under scrutiny. Numerous accounting and audit reforms have been proposed, including some by the accounting industry. The House passed an audit reform bill (H.R. 3763) on April 24, 2002. The Senate passed an amended version of its bill (S. 2673) on July 15th. The SEC published proposed reform rules June 26th; on the 28th it required top executives in companies with revenues exceeding $1.2 billion to personally certify that filed reports are complete and accurate.
Book Synopsis Accounting and the Global Economy After Sarbanes-Oxley by : Don E. Garner
Download or read book Accounting and the Global Economy After Sarbanes-Oxley written by Don E. Garner and published by M.E. Sharpe. This book was released on 2008 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is essential for students and practitioners in accounting, international business, finance, and economics. In a straightforward and readable style, it focuses on the changing accounting and auditing standards in national and global economies in the post-Enron/Arthur Andersen era.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :506 pages Book Rating :4.0/5 (1 download)
Book Synopsis Accounting Reform and Investor Protection by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Accounting Reform and Investor Protection written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2003 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis 107-2 Hearings: Accounting Reform and Investor Protection, S. Hrg. 107-948, Vol. 2, March 5, 6, 14, 19, 20, and 21, 2002, * by :
Download or read book 107-2 Hearings: Accounting Reform and Investor Protection, S. Hrg. 107-948, Vol. 2, March 5, 6, 14, 19, 20, and 21, 2002, * written by and published by . This book was released on 2003 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Enron Scandal by : Theodore F. Sterling
Download or read book The Enron Scandal written by Theodore F. Sterling and published by Nova Publishers. This book was released on 2002 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Preface; Enron: A Select Chronology of Congressional, Corporate, and Government Activities; Enron and Stock Analyst Objectivity; Soft Money, Allegations of Political Corruption, and Enron; Enron: Selected Securities, Accounting, and Pension Laws Possibly Implicated in Its Collapse; The Enron Collapse: An Overview of Financial Issues; Auditing and Its Regulators: Proposals for Reform after Enron; Enron's Banking Relationships and Congressional Repeal of Statutes Separating Bank Lending from Investment Banking; Enron Bankruptcy: Issues for Financial Oversight; The Enron Bankruptcy and Employer Stock in Retirement Plans; Enron and Taxes; Title vs Enron Corp. and Fiduciary Duties Under ERISA; Possible Criminal Provisions Which May Be Implicated in the Events Surrounding the Collapse of the Enron Corporation; Index.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :684 pages Book Rating :4.:/5 (51 download)
Book Synopsis Accounting Reform and Investor Protection: without special title by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Accounting Reform and Investor Protection: without special title written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2003 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Accountants' Liability After Enron by : Daniel L. Berger
Download or read book Accountants' Liability After Enron written by Daniel L. Berger and published by . This book was released on 2002 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Creative Accounting, the Enron Case and its impact on Corporate Governance by : Matthias Kammerer
Download or read book Creative Accounting, the Enron Case and its impact on Corporate Governance written by Matthias Kammerer and published by GRIN Verlag. This book was released on 2008-01-23 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2005 in the subject Business economics - Accounting and Taxes, grade: 1,0, University of Northampton (University of Northampton), course: Managing Finance & Financial Decisions, language: English, abstract: In the last decades creative accounting and corporate governance emerged as common used terms in economical debates. In my assignment I want to point out the meaning and relevance of these concepts as well as to establish a relationship to the Enron case as one of the most prominent corporate collapses in recent years.
Download or read book Auditing and Its Regulators written by and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting problems at Enron, WorldCom, and other companies have raised important questions about the audits of corporate financial statements. These audits are performed by independent accountants who are certified public accountants (CPAs); they are supposed to be carried out in accordance with generally accepted auditing standards (GAAS), rules which have a carefully defined technical meaning. The U.S. Securities and Exchange Commission requires audited financial statements when public companies register to sell new securities and annually thereafter. Auditor assurances about company financial statements remove a barrier to the efficient use of capital and offer some protection to third party investors. However, the recent accounting scandals and numerous revisions of previously-issued financial statements have eroded public confidence in auditing. While auditors are regulated by both governmental agencies and professional organizations, many question whether this oversight has been adequate. In response to these problems, the 107th Congress enacted the Sarbanes-Oxley Act of 2002 (P.L. 107-204), which the President signed on July 30, 2002. Among other things, the Act creates a new oversight board for auditors, prohibits auditing firms from providing certain consulting work for audit clients, and requires rotation of audit partners at least every 5 years. It also imposes new requirements on corporate boards and executives and increases governmental oversight and criminal penalties.
Author :United States. Congress. Senate. Committee on Governmental Affairs Publisher : ISBN 13 : Total Pages :108 pages Book Rating :4.:/5 (318 download)
Book Synopsis Financial Oversight of Enron by : United States. Congress. Senate. Committee on Governmental Affairs
Download or read book Financial Oversight of Enron written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2002 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis 107-2 Documents: Accounting Reform and Investor Protection, S. Hrg. 107-948, Vol. 4, April 16, 22, 24, 25, May 6, June 18, 26, July 15, 16, and 25, 2002, * by :
Download or read book 107-2 Documents: Accounting Reform and Investor Protection, S. Hrg. 107-948, Vol. 4, April 16, 22, 24, 25, May 6, June 18, 26, July 15, 16, and 25, 2002, * written by and published by . This book was released on 2003 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Lessons Learned from Enron's Collapse by : United States. Congress. House. Committee on Energy and Commerce
Download or read book Lessons Learned from Enron's Collapse written by United States. Congress. House. Committee on Energy and Commerce and published by . This book was released on 2002 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
