Evaluation of Unethical Behavior Concerning Accounting Fraud
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Evaluation of Unethical Behavior Concerning Accounting Fraud
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Relevant facts
Enron hired accounting, auditing and consulting services from Andersen, LLP. Andersen was a reputable company in the 20th century not because they had a plethora of high CPA skills, but also because they had intelligent employees that were committed to the values of honesty and often played by the rules of the book (Dibra, 2016). Enron had implemented computer based accounting services; this background was self-assuring in terms of the real fiscal standing of the company. As of 2000, Enron was a lucrative oil giant, with more than 20,000 employees in US with a financial portfolio that span $112 billion (Agrawal & Cooper, 2017). Andersen, LLP abused its responsibility by reporting fictitious figures as opposed to posting real estimates. Enron filed bankruptcy following the worst scandal that led thousands of employees to lose jobs, government deprived of taxes while stockholder wealth went up in smoke.
Ethical issues
With reference to Enron’s case, public welfare, individual rights and occupational dealings are some of ethical issues.
References
Agrawal, A., & Cooper, T. (2017). Corporate governance consequences of accounting scandals: Evidence from top management, CFO and auditor turnover. Quarterly Journal of Finance, 7(01), 1650014.
Dibra, R. (2016). Corporate Governance failure: the case of Enron and Parmalat. European Scientific Journal, 12(16).
Kneale, S. (2014). God, utilitarianism and deontological ethics. Retrieved from https://stephenkneale.com/2014/12/04/god-utilitarianism-deontological-ethics/
Mandal, J., Ponnambath, D. K., & Parija, S. C. (2016). Utilitarian and deontological ethics in medicine. Tropical parasitology, 6(1), 5. doi: 10.4103/2229-5070.1750248
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