Virtually everybody in America with at least a high school education understands that corporate managers at Enron cheated investors, creditors and even their own employees by creating an organizational architecture with two purposes in mind: enrich themselves and cover up their tracks.
With respect to the accounting, the American public now recognizes that Enron understated its liabilities by billions of dollars. While the Powers Report makes clear that Enron executives broke the accounting rules, many in America wonder about a profession that allows business enterprises to hide their liabilities.
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