Special purpose entities (SPE) were a factor in Enrons accounting scandal. Read The Rise and Fall of Enron for more background information. Consider that FASB rules at that time only required 3% of the SPE to be held by investors outside of the company. Consider the pros and cons of following the FASB rules. Was Enron in violation of these rules? If not, what was the concern for SPE in Enrons consolidated financial statements. Be sure to cite ASC codification if utilized in your discussion. USE YOUR OWN WORDS

see like below to find FASB rules

http://www.fasb.org/news/nr070102.shtml

THE RISE AND FALL OF ERON

https://www.journalofaccountancy.com/issues/2002/apr/theriseandfallofenron.html