Financial Times (December 9)
“The Big Four accounting firms have recorded their strongest financial performance since the collapse of Enron as corporate clients rushed to transform their businesses during the coronavirus pandemic.” Revenues soared to over $167 billion, collectively, in spite of “continued criticism of the structure and performance of the firms, especially in audits, including scrutiny of EY’s failure to identify fraud at Wirecard.”
Tags: Accounting firms, Audits, Big Four, Clients, Collapse, Coronavirus, Criticism, Enron, EY, Failure, Financial performance, Fraud, Pandemic, Revenues, Scrutiny, Transform
Houston Chronicle (December 2)
Twenty years on, “Enron remains a cautionary tale of corporate hubris and fraud. It’s lessons still carry weight, especially as Theranos founder and CEO Elizabeth Holmes stands trial, accused of defrauding investors and patients about the viability and accuracy of its medical testing technology.”
Tags: Accuracy, Cautionary tale, CEO, Corporate hubris, Defrauding, Enron, Fraud, Holmes, Investors, Patients, Theranos, Trial, Twenty years
Washington Post (May 16)
The rapidly deflating Hanergy is being called China’s Enron. “The question now, though, is how much the rest of China’s economy has come down with Hanergy syndrome, papering over problems with debt until they can’t be anymore. And the answer might be a lot more than anyone wants to admit.”
New York Times (March 11, 2012)
The proposed JOBS Act (an acronym for Jumpstart our Business Startups) is “a terrible package of bills that would undo essential investor protections, reduce market transparency and distort the efficient allocation of capital.” Amazed by the utter lack of memory, the New York Times stands opposed. “We know memories are short in Washington. But Enron was just 10 years ago. And the entire system almost imploded in 2008. There is no excuse.”
Tags: Congress, Enron, Financial Crisis, Investors, JOBS Act, Start-ups, Transparency
