[20040812]RS21135_安然倒闭：财务问题概述.pdf

Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21135Updated August 12, 2004The Enron Collapse: An Overview of Financial Issuesname redacted, CoordinatorSpecialist in Public FinanceGovernment and Finance DivisionSummaryThe sudden and unexpected collapse of Enron Corp. was the first in a series ofmajor corporate accounting scandals that has shaken confidence in corporate governanceand the stock market. Only months before Enrons bankruptcy filing in December 2001,the firm was widely regarded as one of the most innovative, fastest growing, and bestmanaged businesses in the United States. With the swift collapse, shareholders,including thousands of Enron workers who held company stock in their 401(k)retirement accounts, lost tens of billions of dollars. It now appears that Enron was interrible financial shape as early as 2000, burdened with debt and money-losingbusinesses, but manipulated its accounting statements to hide these problems. Whydidnt the watchdogs bark? This report briefly examines the accounting system thatfailed to provide a clear picture of the firms true condition, the independent auditorsand board m