Free (Virtual) Fraud: Was Enron a Failed Business with a Smaller Fraud? The JPMorgan Chase & Co. Defense- 1 hr CPE
When: Tues March 30, 2021 from 6:00 to 7:20 PM (MT)
Associated with AZ Valley of the Sun Chapter
(Register below to get the Zoom Link to the meeting-mailed out 1 day and 2 hours before)
6:00 to 6:30- Networking
6:30-7:20pm Fraud: Enron by Dr. Steven F. Orpurt, School of Accountancy, Arizona State University
Topic: Was Enron a Failed Business with a Smaller Fraud? The JPMorgan Chase & Co. Defense
“Enron” and “Fraud” are often used interchangeably. But was Enron just another failing business? With only a small(er) fraud near its demise? In the Enron class action lawsuit (Newby vs. Enron Corp.), plaintiffs argued that the investment banks aided Enron’s frauds, and as experts, they were accountable. Thus the plaintiffs sued the banks individually and collectively for $40 billion. Professor Orpurt will briefly describe the lawsuit events and then present the argument that Enron was a failing business with small(er) fraud (a defense developed for JPMorgan Chase & Co. that preceded its $2.2 billion settlement). Of course, this argument is counter to the widely held view that Enron was a massive fraud. You be the judge. Professor Orpurt will also assert that the fraudulent financial statements were still performing their corporate governance duties because some analysts identified Enron’s suspicious accounting. As time and interest allow, Professor Orpurt will describe one or two of the fraudulent accounting schemes.
1 hour CPE- Field of Study : Accounting (technical): Forensic Accounting
Learning Objectives:
Describe the lawsuit events surrounding Enron’s fraud
Present the argument that Enron was a failing business with small(er) fraud
Describe one or two of the fraudulent accounting schemes
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Location: Virtual
Online Instructions: (Register below to get the Link to the meeting-mailed out 1 day and 2 hours before)