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The Enron failure can be attributed mainly to management willingness to act improperly in financial reporting. The primary culprit could be viewed as misuse of

  1. The Enron failure can be attributed mainly to management willingness to act improperly in financial reporting. The primary culprit could be viewed as misuse of the rules of consolidation used in GAAP. Explain the rules of consolidation. Explain the misapplication of the rules as they were used specific to Enron. Describe the role of the Auditor in this scheme. Describe the government regulatory answer to the problem. Explain your thoughts as to the efficacy of this government answer.

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