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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1755 |
Essay's paper body
On October 12, 2001, Enron disclosed a $638 million loss in its third quarter for the fiscal year. This monetary disclosure sparked an interest by the US Securities and Exchange Commission (SEC), who began to inquire about Enron's financial statements. Shortly after, Enron fired Andrew Fastow, the organization's CFO, due to what Enron calls losing investor confidence (Swartz)...
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The termination of Fastow increased suspicion and the SEC announced Enron will undergo a formal investigation.
The once mighty energy company took a downward spiral into the largest bankruptcy in US history. Enron revised their financial statements; they restated earnings, which decreased by $586 million and a reduction of shareholders' equity of $1...
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General points of the essay
Enron Controversy
Elaborate and explain the organizational structure, powers & function of the Securities Commission with a brief comparison and/or reference to the Kuala Lumpur Stock Exchange and Kuala Lumpur Commodities Exchange.
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