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JOURNAL OF ACCOUNTING AND FINANCE
Enron Should Not Have Been a Surprise and the Next
Major Fraud Should Not Be Either
Author(s): Jerry B. Hays, Donald L. Ariail
Citation: Jerry B. Hays, Donald L. Ariail, (2013) "Enron Should Not Have Been a Surprise and the Next Major Fraud Should Not Be Either," Journal of Accounting and Finance, Vol. 13, Iss. 3, pp. 134 - 145
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The CFO of an Enron Special Purpose Entity (SPE) discusses unheeded warnings and dismissed red flags
prior to the Enron accounting scandal. He provides these experiences from the perspective of 30 years as
a CPA and CIA and as the former Vice President of Business and Finance of a multibillion dollar
domestic division of a major oil company. Next an update is provided of the status of white collar crime;
and, a discussion follows regarding the lessons learned from Enron and the prospects for future fraud.
