Bizcovering

Enron is one of the biggest accounting scandals. Enron is an energy company that went bankrupt in 2001. Enron had more than 21000 employees. Enron made it appear as if they were making more money than it really was inflating the benefits against alliances with book and the manipulation of energy markets in California and Texas.

Accounting Scandals Destroy Lives.

Sometimes, corporate scandal may involve some sort of accounting fraud. Integrity is a quality that all practicing accountants should possess. An accountant should make sure that the financial statements he or she has prepared, fairly and accurately reflect a company’s financial condition as these information will influence decisions made by both internal (owners and management) and external parties (creditors, investors, government agencies). Here are just three of the many major accounting scandals that had plagued the corporate landscape in the past decade and how these indiscretions have affected the lives of thousands.