Lessons learned from the Enron Scandal?

The Enron scandal which disclosed in October 2001, led to the bankruptcy of the Enron Corporation. Enron Corporation was an American energy company which was established in Houston, Texas. This also led to the dissolution of one of worlds fifth largest audit and accountancy partnerships known as Arthur Andersen. The bankruptcy of such a big organization is regarded as the greatest setback in American history. The dissolution of Enron was the result of its own false practices illegal dealings of projects and not showing their debts on their companys accounts. (Project 2000_25_Corporate) It was regarded as the greatest failure in terms of audit. Enron was established in 1985 by Kenneth Lay after the merger of Houston Natural Gas and Inter North. This merger created the largest gas pipeline