Enron Scandal

     The Enron Scandal happened in October of 2001. Enron is an American energy based company that was able to hide billions of dollars in debt. Jeffery Skilling hired a team of executives to hide this debt by accounting loopholes and  poor financial reporting. The Chief Financial Officer, Andrew Fastow misled his team and the audit team and pressured them to ignore the issue. Arthur Anderson was in charge of this failed audit. In the end, Enron went bankrupt and failed the Audit. Also, many of the executives were charged and put into prison.