Business Ethics Journal Ethical Theories Applied to Enron
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Business Ethics Journal
Ethical Theories Applied to Enron
Prescriptive Approaches to Ethics at Enron
Enron was a global energy firm that filed for bankruptcy protection in 2001. The firm's senior managers had engaged in fraud for an extended period through a scheme in which partnerships owned by the managers could receive payment for goods and services never provided to Enron. In addition, the firm's external auditing firm, Arthur Andersen, was complicit in the fraud by knowingly certifying false financial statements as accurate. Arthur Anderson participated in the fraud because the firm did not want to risk losing lucrative consulting contracts from Enron, which created a conflict of interest situation (Miller, 2004). The events leading to the collapse of Enron can be analyzed using...