Highlights of GAO's Corporate Governance, Transparency and Accountability Forum
GENERAL ACCOUNTING OFFICE WASHINGTON DC
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The recent sudden and largely unexpected bankruptcy of one of the nations major corporations, Enron Corporation, and the financial difficulties being experienced by several other large corporations have resulted in substantial losses to employees and shareholders. Many believe that the decline of Enron and other instances of financial statement earnings restatements and bankruptcies have resulted in a general decline in investor confidence in our financial markets and in certain key parties under our current system, such as external auditors. These events have also raised a range of questions regarding how such dramatic and unexpected dealings can happen under our current system and the role of various key players under that system. As a result, a number of congressional committees and executive branch agencies have initiated Enron related investigations.
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