Ethics in Accounting and Business Question 1. Where and why did things go wrong at Enron?

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Enron indulged in financial misrepresentation, poor financial accounting standards, exposing loopholes and navigated the entire scam from its auditor Arthur Anderssen and misled its board of directors and CFO using high risk accounting practices and lack of risk management frameworks which resulted in biggest failure such that share price of an alltime high of 90 USD fell to 1 USD and thus Enron filed for bankruptcy.