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All audit committee members should be financially literate.
Enron was an energy company based in Huston, Texas.
It was one of the innovative and also one of the seven largest company in the United States in asses. The company was making profit from supplying natural gas and electricity until the late asses, but after that it expanded its operation to the trading of energy related financial products such as derivatives.
Also, try to find a connection-if there is none say so – about the reading “ENRON-from Pipelines to Pipe Dreams” (it follows) in few sentences.
ENRON – From Pipelines to Pipe Dreams Enron was created through the merger of inter-north incorporated and Houston Natural Gas Corporation in 1985. An investor might incur a lot of debt to capture a company.
The company might defensively buy back its stock at a premium, or, after a takeover, the investor would sell off its assets rather than allow it to continue in operation.
One reaction by companies was to go into debt to become less attractive targets.; All companies must have a majority of independent directors.; Independent directors must comply with an elaborate definition of independent directors.Enron was an energy even largest company in the United States in asses, It had about 20,000 employees at that time.The company was making profit trot supplying natural gas and electricity until the late 1 but after that it expanded its operation to the trading of energy related financial products such as derivatives.In this case, inter north bought out Houston at top dollar and then found it had to service a huge debt.One of the new Enron’s first moves was to raid worker retirement funds.; In addition to its regular sessions, the board should hold additional sessions without management.Overall, the Enron Scandal caused LIST to setup a reinforcement of accounting audit system, and even Europe and Asia were influenced.A common assignment on ENRON – From Pipelines to Pipe Dreams is as follows: 2 pages essay answering the following questions ( 2 questions) from the essays of Robert Jackall (pages: 184,185,186,187,192,193), and James Weber (193, 194, 195,200,201)The readings are attached in the PDF file.No need for introduction, just begin with your insights.