Oversimplifying the case of Enron and Arthur Andersen, Enron was using some accounting practices that were questionable. Because Arthur Andersen was an independent auditor, they were responsible for reporting any questionable accounting practices might be risky to the shareholders of Enron. The Security and Exchange Commission was responsible for requiring and publishing accurate information about Enron's accounting information. In the end, a few Enron employees went to jail, and Arthur Andersen stopped doing business under that name.

As a professional tutor in this Business Law please explain any conflicts of interest in the case of Enron and Arthur Andersen.

Like what could have been done to avoid the conflicts of interest identified?

How would this change the laws to correct the problems that came up in the Enron and Arthur Andersen case?

And in more details how Enron and Arthur Andersen might have been encouraged to act ethically other than direct legal pressures.

I will appreciate to get adequate and sufficient response to all this to enable me to learn more.