Questions: 1- The Enron disaster created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List 3 parties who you believe were most responsible for that crisis. Briefly justify each of your choices. 2- From the early days of this public drama of Enron's consolidated balance sheet and earnings restatements in the fall of 2001 demonstrated that the company's exceptional financial performance during the late 1990s and 2000 had been a charade, a hoax orchestrated by the company's management with the help of a squad of creative accountants. 3. Accounting principles generally forbid a company from recognizing an increase in the value of its capital stock in its income statement" Explain the above accounting statement based on Enron case. How Enron disrupt or volatile the above statement? 4. As pointed out in this case, the SEC does not require public companies to have their quarterly financial statements audited. What responsibilities, if any, do audit firms have with regard to the quarterly financial statements of their clients? In your opinion, should quarterly financial statements be audited? Defend your