The Company That Made Lying Into an Accounting Method audio documentary cover
Business 38 min

The Company That Made Lying Into an Accounting Method

The SEC approved the accounting method that made the fraud legal

Enron's accountants did not cook the books. They rewrote the rules so the cooking was legal. Mark-to-market accounting let them book profits from deals that hadn't closed on products that didn't exist — and the SEC approved it. Every gatekeeper signed off.

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enron accounting fraud corporate scandal mark-to-market wall street SEC whistleblower sherron watkins jeffrey skilling kenneth lay andrew fastow arthur andersen sarbanes-oxley california energy crisis corporate governance financial regulation business ethics white-collar crime special purpose entities bankruptcy
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