So what went wrong with ENRON? Elaborate on:

a. Aggressive accounting practices:

i. the use of mark-to-market accounting

ii. JEDI transaction

iii. SPEs

b. Flawed corporate governance and incentives:

i. Internal auditors

ii. Risk Management Group

iii. Incentive policies

iv. Working environment

v. External auditor

vi. Audit committee and board of directors

vii. Whistle-blower

c. Business model problems (e.g., use of SPEs, extension into new ventures, inconsistencies between domestic and international strategies, )