Enron's impact on the accounting profession was enormous, along with other well-known scams that emerged during the same period. Shockwaves were felt across the country, on Wall Street and in the accounting profession. The consequences of the scams and their subsequent investigations are still being felt in the public practice. The Sarbanes Oxley Act (SOX) was a direct response to public questions about the accounting profession. CPAs were once viewed as more ethical than priests, but that wasn't the case after the scam era .

Firstly , the Professional Conduct Principles 4-7 of the AICPA Code of Conduct . You will need to refer to their page . In case you have questions , need clarification , or would like more detailed information , the full document is included in the Week 5 materials .

While watching the movie “ The Smartest Men in the Room ,” select some violations of the AICPA Code of Conduct. Also look at the Sarbanes -Oxley Act and find some parts that you think are the result of Enron and other major scandals of the era .

Submit a paper with 2-5 pages, double -spaced, 11 point Times New Roman font and 1” . Margins explaining how Enron and its auditors violated the Code of Conduct and impacted SOX . It doesn't need to be a research paper . You are not expected to spend hours in the library . You should have everything you need to answer questions and voice your opinion . (Simple Yes/No answers alone are not acceptable.)

Keep the following questions in mind:

1. Is the Code of Conduct reasonable in its expectations?

2. Does it preserve the integrity of the profession?

3. How was SOX designed to prevent another major scam from occurring?

4. What do you think of the great players, their actions and their ultimate destiny?