"Enron - Show 2 - Will Heads Roll?" was first aired on Sunday March 10th 2002. Our Guests were Jim Holloman, Crowe & Dunlevy and Michael Chris Knapp, Ph.D., University of Oklahoma.
Our topics included:
- What is an Accounting Firm's responsibility during an audit?
- What is the "Power Report?"
- A lot of scrutiny has been aimed at Arthur Andersen's Accounting Firm. Who regulates the power of Accountants?
- Are Accountants involved in self regulation?
- What kind of pressure can a large Firm put on an Accountant in order to receive a favorable report?
- What does "Independent Auditor" mean?
- While auditing Enron, the Andersen Accountant not only conducted an independent audit, but also advised Enron on how to structure the Company. Is this a common practice for an Accounting Firm?
- What is going to happen to Mr. Andersen?
- Will the Enron problems force the Andersen Accouting Firm to merge with another Firm to stay in business?
- Will the Enron scandal lead to stricter Accounting regulations?
Holloman, Blankenship, Knapp