1. The Enron debacle created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List the parties who believe were most responsible for that crisis. Briefly justify each of your choices.
2. List three types of consulting services that audit firms are now prohibited from providing to clients that are public companies. For each item, indicate the specific threats, if any, that the provision of the given service could pose for an audit firm's independence.

3. I find it important to first learn how to perform accounting and business valuations and then we can better understand how frauds can be identified or forensic analysis performed. (You can't rebuild the engine only ever being taught how to change the oil... )As we learn about the principles and techniques of business valuations consider how can we use these tools for forensic analysis and fraud investigations. You may want to perform some research.

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1 The senior management of Enron was most responsible for the crisis of confidence in the accounting ... View the full answer