Reference no: EM132619239 , Length: word count:4500

ACC2109 Business and Professional Ethics - Bangor University

In the early 2000's Enron raised fundamental issues about corporate fraud, accounting transparency, and investor protection. The Enron scandal drew attention to accounting and corporate fraud as its shareholders lost $74 billion in the four years leading up to its bankruptcy, and its employees lost billions in pension benefits. Increased regulation and oversight have been enacted to help prevent corporate scandals of Enron's magnitude.

Required:

1. Discuss the history of Enron as a corporation from its golden period to its eventual demise. You must discuss the factors contributing to multiple and severe ethical dilemmas seen in this case. (1000 words)

2. Discuss the financing and accounting mechanisms used by executives at Enron to manipulate funds and present a healthy financial picture in the Financial statements. Include a discussion of powerful and ruthless top executives, governance lapses, corporate culture and professional considerations overlooked at Enron. (1500 words)

3. How did Arthur Anderson participate in and facilitate the manipulations occurring at Enron? Include the eventual demise of Anderson along with consequences on auditing profession as a whole. (800 words)

4. The Sarbanes-Oxley Act of 2002 (SOX) is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices. Discuss the titles/ sections of the SOX in detail with particular reference to how these titles could have prevented the Enron scandal had SOX been in place a decade before. (1200 words)

General Instructions & Format:
1) The word limit for this assignment is 4,500 words (+/- 10%); excluding graphs and tables.
2) The assignment must be submitted on time (a soft copy to be uploaded on Turnitin (on Moodle)
and one hard copy to be submitted to your lecturer subject to COVID19 situation) to be considered for evaluation.
3) Deadline is June 25, 2020. 5% of the overall mark for each day up-to 6 days; assignments will not be graded or accepted after 6 days.
4) Please use ONLY academic and authentic resources for your research. Please use BIBF e- library sources for your research.
5) If you face any problem, please make sure to contact your lecturer before the due date.
6) You are expected to support your work with sources from the literature and use Harvard referencing style as appropriate, in text and in the list of references at the end of your assignment.
7) Format:
a. Font: Times New Roman
b. Use double spacing and sufficient margins (3-4 cm)
c. Headings & subheadings font size: 14 points; the rest of the text: 12 points
d. All pages should be numbered; include a table of content.

Attachment:- Business and Professional Ethics.rar