The
case study is a close synopsis of the Enron case and its impact on consumers and corporate
business practices alike. Prior to its
collapse, Enron had been named one of America's top 10 admired corporations. Throughout the 1990s the company experienced tremendous growth and profits exceeding $180 billion, employing more than 30,000 people worldwide. Enron collapsed however and went bankrupt, a process that impacted stakeholders and resulted in numerous congressional investigations. This paper shows how the collapse of Enron wreaked havoc on the accounting industry like no other case in American history and called into question the adequacy of U.S. disclosure practices and the integrity of independent audit processes.