Enron, Whistleblowers, and SOX
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Overview
During the downfall of the Enron Corporation, Arthur Anderson LLP, Enron’s accounting firm, instructed its employees to destroy financial documents relating to Enron. On May 6, 2002, a charge of obstructing an official proceeding of the Securities Exchange Commission (SEC) was filed against Arthur Andersen LLP. Hence, the term whistleblower was formed, as well as the Sarbanes-Oxley Act of 2002, which monitors the ethical and financial reporting practices of all publicly held businesses and corporations.
Using the Strayer University Library and/or the Internet, locate sources of information about Enron and the landmark Supreme Court case of [Arthur Andersen LLP v. United States].
Review the contributing factors to the following elements:
- Evolution of the Enron situation.
- Legal ramifications and the resulting effects on corporate ethical standards.
- Creation of whistleblowers.
- Accounting reporting practices and requirements pursuant to the SOX legislation.
Requirements
Your assignment, a 3–4 page paper, will be graded on the following criteria:
- Determine the primary factors that contributed to the downfall of Enron’s financial practices.
- Justify the legality of Enron’s methods for handling its finances as if you had been assigned to defend Enron.
- Differentiate the responsibilities of Arthur Anderson LLP’s auditors from those of Enron’s executives.
- Analyze the provisions of the Sarbanes-Oxley Act of 2002 pertaining to whistleblowers and the law’s requirements today on accounting and reporting practices.
- Integrate into the assignment at least three quality professional and/or academic resources, written within the past five years.
- Clarity, organization, writing mechanics, and formatting requirements.
- Note: Wikipedia and similar websites do not qualify as quality resources.
- Your textbook may serve as one of your resources.
Formatting
Note the following:
- The preferred method is for your paper to be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides.
- Include a cover page containing the assignment title, your name, your professor’s name, the course title, and the date. The cover page is not included in the required page length.
- Include a source list page. Citations and references must follow SWS format. The source list page is not included in the required page length.
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