EXAMINATION OF THE ENRON CASE WITHIN THE FRAMEWORK OF AUDIT, RISK MANAGEMENT AND INTERNAL CONTROL PRINCIPLES
Abstract
The Enron Scandal, which is among the cases that most deeply affected the management discipline especially accounting, auditing and finance in the last quarter century, is still up-to-date by its reasons and results. Many disciplines have been carrying out examinations and producing some scientific works about this case within the context of their own acceptance and principles. There are also some examinations related with the Enron Scandal about the topics of accounting principles, financial statements and independent audit. The issues examined in the content of the study are flexing the accounting principles, hiding the fraudulent operations professionally, and the fact that the financial statements that were declared to public and controlled by the independent audit do not show the reality. In this study, the historical development process of the Enron Scandal and the main issues that led to this case are examined. In addition to this, the effect of this case to the development of the fields of independent audit, corporate governance, internal audit, corporate risk management and internal control is also analyzed.
References
- Aslan, Y. (2018). İç kontrol ve iç denetim mekanizmasının gerekliliği: Enron vakası. Uluslararası Batı Karadeniz Sosyal ve Beşeri Bilimler Dergisi, 2(2), 168-177.
- Bierman Jr, H. (2008). Accounting/finance lessons of Enron: A case study. World Scientific.
- COSO. (2004). Enterprise risk management-Integrated framework executive summary framework.
- COSO. (2017). Enterprise risk management ıntegrating with strategy and performance, executive summary.
- Dobson, J. (2006). Enron: The collapse of corporate culture. in Enron and world finance (pp. 193-205). Palgrave Macmillan, London.
- Healy, P. M., & Palepu, K. G. (2003). The fall of Enron. Journal Of Economic Perspectives, 17(2), 3-26.
- Hosseini, S. B., & Mahesh, R. (2016). The lesson from Enron case-moral and managerial responsibilities. International Journal of Current Research, 8(8), 37451-37460. Kandemir, C., & Kandemir, Ş. (2012). Enron olayını doğru okumak-1: Bir çözümleme denemesi. Muhasebe ve Denetime Bakış, (37), 103-124.
- Karakaya, G. (2018). Coso kurumsal risk yönetimi-riskin strateji ve performansla uyumlaştırılmasına ilişkin düzenleme çerçevesinde getirilen güncellemeler. Denetişim, (18), 15-22.
- Kaya, C. T. (2021). The past, the enron, and the future of audit. Journal of Accounting, Finance and Auditing Studies, 7(1), 119-137.
- Lemus, E. (2014). The financial collapse of the Enron Corporation and its impact in the United States capital market. Global Journal of Management And Business Research.
- Li, Y. (2010). The case analysis of the scandal of Enron. International Journal Of Business and Management, 5(10), 37-41.
- Moncarz, E. S., Moncarz, R., Cabello, A., & Moncarz, B. (2006). The rise and collapse of enron: Financial innovation, errors and lessons. Contaduría y Administración, (218), 17-37.
- Moriceau, J. L. (2005). What can we learn from a singular case like Enron?. Critical Perspectives on Accounting, 16(6), 787-796.
- Rashid, M. M. (2020). Case analysis: Enron; Ethics, social responsibility, and ethical accounting as inferior goods?. Journal of Economics Library, 7(2), 97-105. Tufano, P. (2004). Enron gas business. Case 9-294-076. Harvard Business School.
- Pender, K. (2002). https://www.sfgate.com/business/networth/article/Enron-isn-t-alone-in-auditor-fee-dance-Ratios-2879269.php , (Erişim Tarihi, 15.11.2021).
- Mohd Ali, Badruldeen, Reviewing Enron Scandal (September 13, 2020). Available at SSRN: https://ssrn.com/abstract=3697549 or http://dx.doi.org/10.2139/ssrn.3697549, (Erişim Tarihi, 10.11.2021).
- Enron Activity Report 2000. (ENRAR 2000). https://Picker.Uchicago.Edu/Enron/Enronannualreport2000.Pdf, (Erişim Tarihi, 10.11.2021).
Abstract
Muhasebe, denetim ve finans alanı başta olmak üzere işletme disiplinini son çeyrek yüzyılda en derinden etkileyen olaylar arasındaki Enron vakası, neden ve sonuçları itibariyle halen güncelliğini korumaktadır. Söz konusu vakaya ilişkin çeşitli disiplinler kendi kabulleri ve ilkeleri bağlamında incelemeler yürütmekte ve bilimsel eserler ortaya koymaktadır. Enron vakası ile ilgili araştırmaların bir kısmı da muhasebe prensipleri, mali tablolar ve bağımsız denetim konularındadır. Söz konusu vakanın muhasebe prensiplerinin esnetilmesi, hileli işlemlerin ustaca gizlenmesi ve kamuya açıklanan bağımsız denetimden geçmiş mali tabloların gerçeği yansıtmaması boyutu, çalışmanın içeriğinde irdelenmektedir. Bu çalışmada Enron vakasına ilişkin tarihsel gelişim süreci ve vakanın ortaya çıkmasına neden olan temel hususların yanı sıra vakanın bağımsız denetim, kurumsal yönetişim, iç denetim, kurumsal risk yönetimi ve iç kontrol yapılarının gelişimine etkileri ele alınmıştır.
Keywords
References
- Aslan, Y. (2018). İç kontrol ve iç denetim mekanizmasının gerekliliği: Enron vakası. Uluslararası Batı Karadeniz Sosyal ve Beşeri Bilimler Dergisi, 2(2), 168-177.
- Bierman Jr, H. (2008). Accounting/finance lessons of Enron: A case study. World Scientific.
- COSO. (2004). Enterprise risk management-Integrated framework executive summary framework.
- COSO. (2017). Enterprise risk management ıntegrating with strategy and performance, executive summary.
- Dobson, J. (2006). Enron: The collapse of corporate culture. in Enron and world finance (pp. 193-205). Palgrave Macmillan, London.
- Healy, P. M., & Palepu, K. G. (2003). The fall of Enron. Journal Of Economic Perspectives, 17(2), 3-26.
- Hosseini, S. B., & Mahesh, R. (2016). The lesson from Enron case-moral and managerial responsibilities. International Journal of Current Research, 8(8), 37451-37460. Kandemir, C., & Kandemir, Ş. (2012). Enron olayını doğru okumak-1: Bir çözümleme denemesi. Muhasebe ve Denetime Bakış, (37), 103-124.
- Karakaya, G. (2018). Coso kurumsal risk yönetimi-riskin strateji ve performansla uyumlaştırılmasına ilişkin düzenleme çerçevesinde getirilen güncellemeler. Denetişim, (18), 15-22.
- Kaya, C. T. (2021). The past, the enron, and the future of audit. Journal of Accounting, Finance and Auditing Studies, 7(1), 119-137.
- Lemus, E. (2014). The financial collapse of the Enron Corporation and its impact in the United States capital market. Global Journal of Management And Business Research.
- Li, Y. (2010). The case analysis of the scandal of Enron. International Journal Of Business and Management, 5(10), 37-41.
- Moncarz, E. S., Moncarz, R., Cabello, A., & Moncarz, B. (2006). The rise and collapse of enron: Financial innovation, errors and lessons. Contaduría y Administración, (218), 17-37.
- Moriceau, J. L. (2005). What can we learn from a singular case like Enron?. Critical Perspectives on Accounting, 16(6), 787-796.
- Rashid, M. M. (2020). Case analysis: Enron; Ethics, social responsibility, and ethical accounting as inferior goods?. Journal of Economics Library, 7(2), 97-105. Tufano, P. (2004). Enron gas business. Case 9-294-076. Harvard Business School.
- Pender, K. (2002). https://www.sfgate.com/business/networth/article/Enron-isn-t-alone-in-auditor-fee-dance-Ratios-2879269.php , (Erişim Tarihi, 15.11.2021).
- Mohd Ali, Badruldeen, Reviewing Enron Scandal (September 13, 2020). Available at SSRN: https://ssrn.com/abstract=3697549 or http://dx.doi.org/10.2139/ssrn.3697549, (Erişim Tarihi, 10.11.2021).
- Enron Activity Report 2000. (ENRAR 2000). https://Picker.Uchicago.Edu/Enron/Enronannualreport2000.Pdf, (Erişim Tarihi, 10.11.2021).
Details
| Primary Language | Turkish |
|---|---|
| Subjects | Economics |
| Journal Section | Articles |
| Authors | |
| Early Pub Date | January 30, 2022 |
| Publication Date | January 30, 2022 |
| Published in Issue | Year 2022 Issue: 24 |
Through the studies it publishes, Denetişim Journal contributes to achieving significant progress in the journey towards an effective audit and management system worldwide by establishing an effective communication network among professionals, academics, and regulators in its field.