Bigger Than Enron
This documentary focuses how the accounting integrity became the puppet in the hand of
greedy people. The documentary discuss the big crocodiles like CEO, the directors, etc. the key
people in the cooperation and, how these people convicted to make misleading and false
financial statement and make their position strong in wall street and, raise the prices in stock
market . When an executive has a portfolio of a hundred million stock options, they can make far
more money by getting the stock to move a few dollars in response to false information than
anybody could do in most insider trader cases. “Bigger Than Enron” examines three specific
cases in which Andersen (the big American Accounting company) auditors allowed fraudulent
accounting practices to cause enormous investor losses — at Sunbeam, Waste Management, and
finally Enron. “Bigger Than Enron,” spotlights on how the corporate watchdogs — the bankers,
lawyers, regulators, politicians, and above all, the accountants — failed to prevent Enron and
other scandals from happening. Through interviews with current and former SEC officials,
Arthur Andersen executives, members of Congress, investor advocates, and others, the report
explores how the system of controls was eroded by conflicts of interest, as well as by
congressional intervention that blocked efforts at protecting investors.
The Enron scandal
The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron
Corporaon, an American energy company based in Houston, Texas, and the dissolution of
Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the
world. The largest bankruptcy reorganization in American history at that time, Enron
undoubtedly is the biggest audit failure.
The Enron Background
Enron’s predecessor was the Northern Natural Gas Company, which was formed in 1932, in
Omaha, Nebraska. It was reorganized in 1979 as the main subsidiary of a holding company,
InterNorth which was a diversified energy and energy related Products Company. InterNorth was
a major business for natural gas production, transmission and marketing as well as for natural gas
liquids and was an innovator in the plastics industry. The company initially named itself
