Everyone loves scandal. What energy, commodities, and services company went bust in December of 2001, filing one of the largest bankruptcies in US history?

Called the "Enron scandal," the company collapsed with $60 billion in assets at the end of 2001, resulting in new legislation for better accounting standards and practices. The Sarbanes-Oxley Act (2002) barred auditing firms from consulting on other business with those same clients while in the process of auditing and also gave harsher penalties for changing, destroying, or fabricating financial records.

Asked by Jessica Holom · Last updated 5 years ago · 5.3K views · SOURCE