Enron was an energy company that collapsed in 2001 due to an accounting scandal where they hid billions in debt and losses. Their auditor, Arthur Andersen, failed to catch the deception and shredded documents related to their audits of Enron. This destroyed public trust in the accounting industry. Key parties responsible included Enron executives who misled investors and Arthur Andersen for poor auditing and shredding documents. Regulations were violated around accounting transparency, auditor independence, and corporate governance. The scandal led to new regulations like the Sarbanes-Oxley Act and separating auditing and consulting services to restore integrity to financial reporting.

1. Copied from instructor 1.) Briefly, provide a history of Enron and the
relation
Copied from instructor1.) Briefly, provide a history of Enron and the relation to Arthur
Anderson.2.) The Enron and Arthur Anderson scandal created what many called a crisis of
confidence on thepart of the public in the accounting profession. List the parties who you
believe are the mostresponsibe for that crisis. Briefly justify each of your choices.3.) Identify
and list the governance principles and guidelines that were violated.4.) Can Audit firms
truly be independent consultants?5.) Identify regulation and oversight changes that
resulted from the Enron and Arthur Anderson scandal and list five recommendations that
have been made after the fact to strengthen the audit function after Enron’s scandal.– Must
have intext citation.– Must have a minimum of 3 sources.– The Case Study main body of this
assignment must be 6-8 pages in length