POINT OF VIEW:

Enron Corporation is based in Houston, Texas emerged as the largest seller of natural gas and other energy
resources in America. It was a multinational corporation providing electricity, natural gas, communications, and
pulp and paper companies, with revenues of $111 billion dollars during the year 2000. They were also on the top
rank of "America's Most Innovative Company" for six consecutive years by Fortune, an American business
magazine. But their story ends with the bankruptcy, when it was revealed at the end of 2001 that their reported
financial condition was sustained by an institutionalized, systematic, and creatively planned accounting fraud,
which was known as the Enron scandal. Since then, Enron has become a well-known example of willful corporate
fraud and corruption. The scandal also brought into the question of the accounting practices in the United States
and became a factor in the enactment of the Sarbanes-Oxley Act of 2001. The scandal also affected the greater
business world by causing the dissolution of the Arthur Andersen accounting firm, which had been Enron’s main
auditor for years.

 Kenneth Lay, who had been the chief executive officer (CEO) of Houston Natural Gas
became Enron’s CEO and chairman and quickly rebranded Enron into an energy trader and
supplier.
 Jeffrey Skilling
 Andrew Fastow
 Arthur Andersen LLP