Assalamualaikum sir, I am MD. Shahnewaj bearing ID 1513. Thank you for
giving me the opportunity to present on Surbanes and oxley act and its
relationship with Enron scandals and corporate governance.
The Enron scandal was an accounting scandal involving in an American energy
company known as Enron Corporation. This company initiated ‘Mark to market
concept’ which is to show future estimated profit in the current year’s income
statement. In addition, they have started to show high value of their unique energy
power asset and to take benefit of the operating lease -an off-balance sheet item.
In October 2001, the company declared bankruptcy and finally collapse. This
bankruptcy was the largest bankruptcy in the US history and Enron was cited as
biggest audit failure. One of the largest audit farm Arthur Anderson was
