Instances in which corporations have been found in serious breach of accounting ethics by falsifying or manipulating information so that financial statements do not give a true and fair view of the company's performance.
The Enron scandal is a complex case of fraudulent accounting that led to the collapse of the energy giant Enron in 2001, one of the largest corporate bankruptcies in U.S. history, which subsequently led to significant legislative changes.
PCAOB oversees the conduct of auditors of public companies to ensure accurate and reliable financial reporting, enhancing investor confidence in the capital markets.
The Waste Management scandal was an egregious example of accounting fraud in which top executives manipulated financial statements to meet earnings targets. Spanning over five years from 1992 to 1997, this deceitful practice was eventually uncovered, resulting in significant financial restatements and legal consequences for both the company and its auditors.
