The Economic Effects of the Enron Downfall
This paper discusses the impact on the economy of the Enron bankruptcy.
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The paper looks at the effects on investment and employment that the bankruptcy of Enron has had on the economy. The positive effects on accounting standards and procedures are also highlighted.
“The world’s biggest bankruptcy ever, caused by fraud, misleading accounts and less than honorable, although legal, auditing practices was filed on December 2, 2001-shattering the integrity and trust of even the most credible businesses that will never be replaced. (Economist Editors, The Enron Scandal, paraphrased). Now, no business is above suspicion. Some experts believe that the Enronitis has had more of an impact on the economy than the terrorist attacks. This report will be discussing the impacts The Enron Downfall had on the economy.”