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What do you think could have been done to prevent the Enron scandal?

What do you think could have been done to prevent the Enron scandal?

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Answer #1

Solution: The Enron scandal was the reason to emerge a new act called Sarbanes-Oxley Act of 2002.

The two important sections of this act could have prevented the Enron scandal are sec.404 and sec.302

Sec.404 : It requires Corps. & auditors to establish the internal control procedures.

Sec.302 : It requires mgmt. to certify the accuracy of the financial statement & reports.

Ref. :

SOX Act of 2002

Business Ethics & Comm. ,Intermediate accounting: ICAI

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